17/09/2015 - 06:10

This week's property round-up

17/09/2015 - 06:10

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This week, Reiwa members reported the total number of sales has declined yet again, to 605, a marginal decrease of 2 per cent on the previous week.

This week, Reiwa members reported the total number of sales has declined yet again, to 605, a marginal decrease of 2 per cent on the previous week.

This is mainly attributed to a significant decline in total land sales of 12 per cent and house sales by 4 per cent.

Despite the decline in overall sales, unit sales recorded a significant increase of 18 per cent over the week.

Total properties listed for sale have increased from 14,310 to a historical high of 14,634 this week, 4 per cent higher than the total properties listed for sale recorded four weeks ago.

The new historical high record of sales listings is also the highest as of year 2015, well above the last peak of 14,584 recorded in May 2015.

Turning to the rental market, this week Reiwa members have reported that properties for rent declined by 1 per cent to 8,191, 2 per cent lower than the total rental listings recorded four weeks ago.

The composition of houses and units for rent has not changed significantly from last week.

Rental listings for units have decreased by 2 per cent, while rental listings for houses remained unchanged.

The median rent for the three months to August 2015 recorded a marginal decline to $420 for houses, $395 for units, and $410 for the overall market (in comparison to the median rent recorded during the three months to July 2015 period).

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