If the chart below is anything to go by, times are getting tougher for any individual, business or government that relies upon turnover in Australia’s housing market.

From CoreLogic, it shows the amount of settled housing transactions in Australia on a six-month moving average basis.

Credit:CoreLogic

For clarity, CoreLogic says off-the-plan sales are not counted until completion, meaning there will be some upwards revision to recent sales volumes given the high volume of units currently under construction across the country.

Right now, and largely reflecting the housing market slowdown seen in Sydney and Melbourne over the past 12 months, not only are transaction volumes below the average seen over the past decade, they’re also moving back towards levels last seen during the global financial crisis.