In Brisbane, in 2003, over 73,000 dwellings were sold. In 2007, over 69,000 dwellings were sold in Brisbane. However, in 2011, only 34,300 dwellings changed hands.
This was the lowest number of properties sold in any year in Brisbane in the past decade.
RP Data says:
"Clearly 2011 was a very weak year for housing transactions. The higher interest rate environment throughout much of the year and the general conservative nature of consumers were likely to be the biggest influences on such a low volume of sales. We are anticipating transaction volumes will pick up over 2012 due to slightly more favourable conditions."
See Article from RP Data