This week's property round-up

This week REIWA members reported a marginal increase in the weekly sales to record 637 sales from 632 sales last week.

Despite fluctuations in weekly sales transactions, sales have remained around the 600 mark over the past 6 weeks.

The 1 per cent increase in sales over the week is mainly attributed to a significant increase in total land sales by 50 per cent whereas unit sales saw a significant decline of 19 per cent and house sales declined by 1 per cent.

Total properties listed for sale continued to increase over the week to 16,969, a 1 per cent increase from 16,750 recorded last week.

This is mainly attributed to an increase in listing for houses and units by 2 per cent respectively while listings for land saw a marginal decrease of 1 per cent.

This is 4 per cent higher than the total properties listed for sale four weeks ago and 28 per cent higher than same time last year.

Turning to the rental market, REIWA members have reported an increase of 3% in the total properties for rent this week to record 9,373 rental listings over the week from 9,105.

This is mainly attributed to a marginal increase in listings for houses by 3 per cent and listings for units by 2 per cent.