This week's property round-up

OPINION: Sales activity was up over the week, with Reiwa members reporting an increase in weekly sales to 725.

The overall 55 per cent rise in weekly sales is attributed to a 61 per cent increase in sales for houses, a 51 per cent increase in unit sales over the week, and a 34 per cent increase in vacant land sales.

The uplift in activity reiterates market conditions after recovering from lower sales during the shortened Anzac Day period and continues to build on stronger momentum seen during the early part of this year.

Total properties listed for sale were down 1 per cent over the week to 14,840. Listings for houses and units both decreased by 2 per cent, while vacant land listings increased by a marginal 1 per cent. The total number of listings recorded this week is similar to four weeks ago but is 1 per cent lower than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent increased over the week to 10,734. This is 3 per cent higher than levels seen four weeks ago and 5 per cent higher than the same time last year.