This week's property round-up

Sales activity experienced an expansion over the week, with Reiwa members reporting an increase in weekly sales to 545.

The overall 5 per cent rise in weekly sales is attributed to a marginal 1 per cent increase in sales for houses, an 11 per cent increase in unit sales, and a 24 per cent increase in vacant land sales over the week.

Total properties listed for sale remained stable over the week at 13,251. Listings for both houses and units remained stable, while land listings decreased by 1 per cent. 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 contracted over the week to 10,330. This is 4 per cent lower than levels seen four weeks ago and 7 per cent lower than the same time last year.