Idle real estate agents possibly unlikely to see a return to busier days: RBA
Despite the improvement in conditions in the established housing market, the Reserve Bank of Australia has noted turnover of houses and units remains quite low.
"At least by comparison with most of the previous decade," Christopher Kent, the bank assistant governor (economy) said in an address to The Australian Institute of Building last night.
"It may be that the experience of that era is not the right comparison.
"Perhaps we shouldn't expect to see turnover sustained at those very high rates again.
"If that is right, it means that those who make a living from turnover – real estate agents being the most obvious example – are unlikely to see a return to the easier days of the first half of the previous decade," he said.
The peak turnover was around 2003-2004, the RP Data Rismark graphic suggests. RP Data has subsequently released information that shows sales volumes in 2012 were higher than 2011 in Brisbane, Perth and Darwin but lower elsewhere.
