This week's property round-up

This week, Reiwa members reported an increase in weekly sales to 579. The overall 3 per cent increase in sales over the week is attributed to a 7 per cent increase in sales for houses and 1 per cent for units.

However land sales are down by 25 per cent over the week. Total properties listed for sale recorded no change in percentage terms to remain at 15,314.

Listings for houses are also unchanged in comparison to last week, while unit and land listings have recorded a marginal increase of 1 per cent. The total number of listings recorded this week remains at similar levels compared with four weeks ago but is 5 per cent higher than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent increased by a marginal 1 per cent over the week to 10,549. This is 4 per cent higher than levels seen four weeks ago and 39 per cent higher than the same time last year.