Pick-up in Brisbane and Canberra property sales show how stimulus-sensitive Australia's property market is: Tim Lawless

If you want an example of how stimulus-sensitive the Australian housing market is, look no further than Brisbane or Canberra. Transaction volumes absolutely spiked in July. In Brisbane, our estimate of transaction numbers surged by 52% compared with the June reading, and in Canberra the number of home sales was 41% higher than sales in June.

The last time month-on-month transactions were that high in Brisbane was back in March 2010, and for Canberra the number of sales in July hasn’t been that high since March 2011.