This week's property round-up

Sales activity expanded over the week, with Reiwa members reporting an increase in weekly sales to 657. The overall 12 per cent rise in weekly sales is attributed to a 5 per cent increase in sales for houses, a 20 per cent increase in unit sales, and a 38 per cent increase in vacant land sales over the week.

Total properties listed for sale declined over the week to 14,517. Listings for houses and units both decreased by a marginal 1 per cent, while vacant land listings remained stable.

The total number of listings recorded this week was 2 per cent lower than four weeks ago and is 1 per cent lower than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for remained stable over the week at 10,809. This is 1 per cent above levels seen four weeks ago but 3 per cent lower than the same time last year.