Housing sales have reached a 12-year high, says CoreLogic

By Olivia Gee · · 2 min read
Fact Checked
Advertiser disclosure
Aerial view of houses and streets, as property sales surge to a near 12-year high.

In the year to August, CoreLogic estimates there have been 598,000 house and unit sales across Australia.

This represents the highest annual housing turnover recorded by the group since 2004, and is a massive 42% increase compared to the previous 12-month period.

The numbers are pretty consistent across states and territories. Each state except Tasmania recorded an increase well above 10% in year-on-year home sales, with CoreLogic suggesting Tassie is trailing behind based on supply shortage rather than a dip in demand. 

The most significant jumps were seen in the previously weaker property markets of Western Australia (62% rise) and Northern Territory (59% rise).

Overall, CoreLogic credits the high turnover to a number of factors including government incentives, boosted household savings levels in 2020, and the loosening of loan policies alongside record-low home loan interest rates.

While this upward trend in turnover is expected to continue into 2022, pull back is forecasted for the medium-to-long term. 

This projection has a few key drivers including worsening housing affordability in terms of the ratio of housing prices to income, coupled with a renewed focus on lending standards to combat prospective buyers taking out loans they can’t reasonably afford. With the pandemic drastically altering migration flows while residential construction continues, the gradual uptick in migrant buyers will also be set back, affecting turnover rates if new buildings sit idle.

Core considerations for home buyers right now

All this information might leave prospective home buyers wondering if now is the best time to invest in property. While everyone’s situation will be different based on their goals and personal financial situation, there are a few things potential buyers might want to consider before they begin their house hunt.

Property prices in your area. Regional property markets have been booming over the last 18 months, with city dwellers moving to regional areas after transitioning to remote work. While city prices continue to climb, this has meant previously more affordable regional areas are also under the pump. So, be sure to keep this in mind when scouting out potential new home turf.

Home loan interest rates. Mortgage rates have dropped to record-low levels alongside the national cash rate during COVID-19. This means that, despite home prices soaring, you can access more affordable financing to get into the market. While variable rates can shift any time and fixed rates can increase after the set timeframe, it’s wise to take advantage of more affordable home loans available right now.

Government incentives & support schemes. There are a range of incentives you may be eligible for which could give you an extra boost towards purchasing a home. Many of these government and bank schemes are targeted at first home buyers and families. We’ve created comprehensive guides on the main options you may want to investigate:

If you’re ready to begin your home loan hunt, check out a few of the options below as a starting point.

Last updated 24 March 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
  • Promoted

    Basic Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 30% min deposit
    • Redraw available
    Interest rate
    5.39 % p.a.
    Fixed 2 years
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,805
    Go to site
    • No ongoing fees
    • Free redraw from your loan using Macquarie Online.
    • No application or account management fees
  • Promoted

    Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.83 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Basic Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 30% min deposit
    • Redraw available
    Interest rate
    5.39 % p.a.
    Fixed 2 years
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,805
    Go to site
    • No ongoing fees
    • Free redraw from your loan using Macquarie Online.
    • No application or account management fees

  • Switch & Save One Year Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Offset available
    • Redraw available
    Interest rate
    5.54 % p.a.
    Fixed 1 year
    Comparison rate
    5.74 % p.a.
    Initial monthly repayment
    $2,852
    Go to site
    • No penalty for early payout
    • No penalty for making additional payments
    • 100% Savings Offset facility

  • Switch and Save Home Loan

    • Owner occupier
    • Principal & Interest
    • Offset available
    • Redraw available
    Interest rate
    5.64 % p.a.
    Variable
    Comparison rate
    5.75 % p.a.
    Initial monthly repayment
    $2,883
    Go to site
    • No penalty for early payout
    • No penalty for making additional payments
    • 100% Savings Offset facility

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.00 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees

  • Simple Home Loan Variable

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.74 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No application, ongoing or monthly fees
    • Make additional repayments at any time
    • Access your money via internet banking at any time

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months
Showing 8 results from 417 home loans. Use the filters to see more

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Compare home loans