This week's property round-up

Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 498.

The overall 12 per cent fall in weekly sales is attributed to a 14 per cent decrease in sales for houses, a 10 per cent decrease in unit sales, and a 3 per cent decrease in vacant land sales over the week.

Total properties listed for sale grew by a marginal 1 per cent over the week to 13,256. Listings for houses and vacant land both increased by 1 per cent, while listings for units remained stable. The total number of listings recorded this week is 3 per cent lower in comparison to four weeks ago and is 6 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 10,600. This is 3 per cent lower than levels seen four weeks ago and 6 per cent lower than the same time last year.