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Wednesday, 26 February 2020

Transfers off their cycle lows

Stamp receipts recover

The number of property transfers if now tracking higher than a year earlier, bringing the annual number of transactions off their cycle lows.

Stamp duty receipts have yet to recover by as much, partly because previous asset sales have dropped out of the annual figures.

The recovery also features more first-time homebuyers, so which may bring the average transaction price a little lower. 

There's finally a bit more volatility in markets with crude below $50 and the S&P 500 shedding about 250 points or 7 per cent over the past few days.