OPINION: Sales activity experienced an expansion over the week, with Reiwa members reporting an increase in weekly sales to 582.
Sales activity experienced an expansion over the week, with Reiwa members reporting an increase in weekly sales to 582.
The overall 19 per cent rise in weekly sales is attributed to a 14 per cent increase in sales for houses, a 53 per cent increase in unit sales, and a 15 per cent increase in vacant land sales over the week. It is timely to note the recovery in transaction numbers this week comes on the back of a shortened last week, due to the Queen’s Birthday holiday.
Total properties listed for sale declined over the week to 13,153. Listings for houses, units and vacant land all decreased by one per cent. The total number of listings recorded this week is 2 per cent higher in comparison with four weeks ago but is 7 per cent lower compared with the same time last year.
Turning to the rental market, Reiwa members reported total properties available for rent remained stable over the week at 9,763. This is 3 per cent lower than levels seen four weeks ago and is 10 per cent lower than the same time last year.