House purchases are trending downwards in New South Wales as buyers increasingly turn to strata properties, according to a new report.
The Property Market Update Q3 2024 report from InfoTrack shows house purchases have dropped from 60.83 per cent of all New South Wales property sales in Q1 to 58.56 per cent in Q3.
Meanwhile, strata dwellings have steadily increased, now accounting for more than a third of sales at 33.01 per cent in Q3.
InfoTrack’s Head of Property, Australia, Lee Bailie, said this trend points to buyers opting for more affordable housing solutions given current economic conditions.
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