After the big jump in reported activity at the end of March, sales dipped 47% last week due to the Easter break.
The fall was consistent across each of the market sectors as well as north and south of the river.
To put the impact of the Easter break in context, the total reported volume of 506 was only 6% below the Australia Day long weekend and 12% down on the March long weekend reporting periods. More relevant is a comparison with past Easter breaks. The 2015 figures mirrors 2014 (510) but was 17% down on 2013 (612) as the market passed through its cyclical peak in the March quarter of 2013.
After the fall ahead of Easter, listings have steadied at around 13,670 but are expected to rebound over coming weeks although the forthcoming Anzac weekend may again slow activity. Slower leasing activity has seen a further 2% increase in rental listings to 6,742.