More Property Millionaires Than Ever Before

The share of residential property sales over $1 million continued to climb in 2017 across most of the capitals.  With dwelling values now falling, what will 2018 bring for sales of $1 million properties?

Over the 12 months to December 2017, 16.1% of all houses and 9.5% of all units sold nationally transacted with a price tag excess of $1 million.  By comparison, 12 months earlier 14.8% of houses and 8.1% of units sold for more than $1 million.  At 16.1% of all house sales and 9.5% of all…