This week's property round-up

Sales activity grew over the week, with Reiwa members reporting an increase in weekly sales to 627.

The overall 19 per cent rise in weekly sales is attributed to a 15 per cent increase in sales for houses, a 22 per cent increase in unit sales, and a 44 per cent increase in vacant land sales.

Total properties listed for sale grew by 2 per cent over the week to 14,092. Listings for houses, units, and vacant land increased by 3 per cent, 2 per cent, and 1 per cent respectively. The total number of listings recorded this week is 6 per cent higher than four weeks ago but is 6 per cent lower than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent declined by a marginal 1 per cent over the week to 9,402. This is 4 per cent lower than levels seen four weeks ago and is 11 per cent lower than the same time last year.