This week's property round-up

Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 555. The overall 14 per cent fall in weekly sales is attributed to a 17 per cent decrease in sales for houses and a 23 per cent decrease in unit sales, despite a 17 per cent increase in vacant land sales over the week.

Total properties listed for sale remained stable over the week at 14,894. The total number of listings recorded this week is similar in comparison to four weeks ago but is 2 per cent lower than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent remained stable over the week at 10,782. This is 2 per cent higher than levels seen four weeks ago and 3 per cent higher than the same time last year.