This week's property round-up

Sales activity experienced an expansion over the week, with Reiwa members reporting an increase in weekly sales to 583.

The overall 4 per cent rise in weekly sales is attributed to a 5 per cent increase in sales for houses and a 7 per cent increase in vacant land sales, despite unit sales decreasing 4 per cent over the week.

Total properties listed for sale rose by a marginal 1 per cent over the week to 13,206. Listings for houses and vacant land both increased by 1 per cent, while unit listings remained stable. The total number of listings recorded this week is unchanged in comparison to four weeks ago but is 8 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 9,986. This is 3 per cent lower than levels seen four weeks ago and is 7 per cent lower than the same time last year.