I came to this book with the knowledge than it had been promoted as YA in some markets(I found it in the Teen section of an Angus & Robertson) and that in my experience Margo Lanagan has a penchant for slightly dark, slightly quirky but emotionally confronting and challenging stories.
I was not let down with this book. The tale is enchanting in the truest sense of the word - it had me spell bound within the first few pages. The prose is skillfully crafted, rich in imagery and emotion, the characters despite the fantastical nature of the story, are 'real' - indeed it has been a long time since I have developed such deep emotional attachment to a character in a book.
The Story?

Final thoughts
If you are a parent that sees the YA or Teen label as a endorsement for buying books for your twelve year old, I'd suggest that you read it first. This book is probably more suitable for the 14+ category.
If you are an adult that doesn't like reading YA, I personally wouldn't call it a Young Adult novel- it's appropriate for the above age group, but in reality this is a tale for all ages.