Jonathan Chancellor | 2 December 2012

Million-plus market shrinks: RP Data

Sales over $1 million accounted for only 5.4% of all sales across Australia, according to RP Data researcher Cameron Kusher.

In the capital city markets, home sales at prices in excess of $1 million accounted for 7.4%.

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Sydney snared the largest amount of high-end property sales, with 11.1% of houses and apartments selling above $1 million.

Hobart accounted for the lowest number of sales in the $1 million-plus premium bracket, with just 1.2%, followed by Darwin's 2.3%.

Perth sits in the middle, with 6.5% of sales in the $1 million plus range.

Throughout Australia, 48.3% of all homes sold were at prices below $400,000.

Within capital cities, its 37.2% of all sales priced below $400,000.

The data covered the year to August 2012.

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