13/08/2015 - 06:52

This week's property round-up

13/08/2015 - 06:52

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This week REIWA members reported the total number of sales are up to 632 an increase of 1 per cent on the previous week.

This week REIWA members reported the total number of sales are up to 632 an increase of 1 per cent on the previous week.

This is due to an increase in unit and land sales of 6 per cent and 30 per cent respectively.

Total properties listed for sale have increased from 13,575 to 13,700 this week and are slightly down over the last four weeks.

Over the four week period listings have ranged between 13,500 and 14,000.

This week the change in listings for sale across the three sectors (houses, units and land) have shown little change ranging from 0 per cent to 3 per cent.

Current listings are still sitting well above the long term average of 12,000.

Turning to the rental market, this week REIWA members have reported that properties for rent have increased to 8,451 from 8,335 last week.

The composition of houses and units for rent has not changed significantly from last week. House rental listings have increase by 1 per cent and unit rental listings are up 2 per cent.

The median rent for the three months to July 2015 is $430 for houses, $400 for units and $420 for the overall market.

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