This week's property round-up

This week Reiwa members reported a fairly affirmative week once again with total number of sales rebounded to 639, a significant growth of 11% over the week after a slight dip last week.

This is the highest number of sales reported since the first week of September 2015 which mainly attributed to a rebound in total land sales by 45% and unit sales by 21% back to the levels reported two weeks ago after a slight dip last week. House sales recorded a steady increase of 5% over the week. Nevertheless, total properties listed for sale continued to creep up from 15,645 to 15,993 this week, 6% higher than four weeks ago.

Listings for houses have crossed the 10,000 mark to record 10,074 listings this week.

Turning to the rental market, REIWA members have reported the first marginal decline in total properties for rent over the last six weeks of 0.5% to 8,499.

This is mainly attributed to a marginal decline in listings for houses by 1% while listings for units remained virtually unchanged.

The median rent for the three months to September 2015 remained unchanged at $420 for houses, $395 for units and $410 for the overall market in comparison to the three months to August 2015 period.