This week's property round-up

The financial year finished with sales recording their highest level in the June quarter, with this week’s total activity up 3% to 723, the highest since the pre-Easter surge of 876.

The latest number marginally top figures for the first two weeks of May. A year-to-date high in reported land sales, which may also reflect some end of financial year reporting, was responsible for this week’s increase as both house and multi-unit sales eased back just slightly. Listings for sale have fallen back to their lowest level in three months, up just 0.5% on the end of March quarter. Listings did, however, peak at around 14,600 in late May and have fallen by 5.8% at quarter’s end. In annual terms, listings increased by 28% across the year.

Turning to the rental market, rental listings actually fell this week after rising every week for the past four months. The year-end figure of 8,129 is up 40% on the same time last year.