This week's property round-up

Sales activity expanded over the week, with Reiwa members reporting an increase in weekly sales to 553.

The overall marginal 1 per cent rise in weekly sales is attributed to a 4 per cent increase in sales for houses, and a 1 per cent increase in unit sales, despite an 18 per cent decrease in vacant land sales over the week.

Total properties listed for sale remained stable over the week at 13,601. Listings for units and vacant land both remained stable, while house listings decreased by a marginal 1 per cent. The total number of listings recorded this week is 6 per cent lower than four weeks ago and is 5 per cent lower than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent decreased over the week to 10,764. This is similar to levels seen four weeks ago but is 6 per cent lower than the same time last year.