This week's property round-up

This week, Reiwa members reported a decrease in weekly sales to 595.

The overall 1 per cent decrease in sales over the week is attributed to a 5 per cent decrease in sales for houses and 10 per cent for units. However, vacant land sales are up by 67 per cent over the week.

Total properties listed for sale decreased by 1 per cent to 14,739. Listings for units and houses have decreased by 1 and 2 per cent respectively, while vacant land listings have remained unchanged in percentage terms over the week.

The total number of listings recorded this week is 3 per cent lower than four weeks ago but 3 per cent higher compared with the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent increased by 1 per cent over the week to 10,920. This is 4 per cent higher than levels seen four weeks ago and 34 per cent higher than the same time last year.