21/01/2016 - 05:14

This week's property round-up

21/01/2016 - 05:14

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reiwa.com listings for sale data for the overall market for the week ending 19 January 2016 totalled 14,902.

reiwa.com listings for sale data for the overall market for the week ending 19 January 2016 totalled 14,902.

This is a marginal increase of 2 per cent over the week and down approximately 4 per cent from four weeks ago. At the same time last year, listings for sale were sitting at 12,561 which represents approximately a 19 per cent increase from this level.

Looking at the individual sectors, reiwa.com data reported that listings for houses sit at 9,417, an increase of 2 per cent from last week. Units had a similar change from 3,147 to 3,220 this week, also an increase of 2 per cent.

Listings for land sit 3 per cent higher at 2,265.

Total listings for sale figures have been increasing week on week from the beginning of the New Year which may indicate signs that listings are returning back to more “normal” levels post the holiday break.

This is consistent with what was seen last year where listing numbers fell during the month of December in the lead up to the New Year before gradually increasing again.

This week REIWA members reported an increase in weekly sales to 541.

The 12 per cent increase in sales over the week is made up of a 20 per cent increase in sales for houses and 3 per cent for units. However, land sales are down 36 per cent in comparison to last week.

Even though weekly sales had been softer over the last six weeks, it is timely to remember the seasonal impact of Christmas during this period.

However, the latest sales numbers portray a trend towards figures seen before the holiday period.

Listings for sale have increased 2 per cent this week, from 14,578 to 14,902. Listings for houses and units have both experienced an increase of 2 per cent this week whilst land listings are up 3 per cent.

Turning to the rental market, REIWA members reported an increase of 1 per cent in total properties available for rent over the week from 10,096 last week to 10,148 this week.

This is also 5 per cent higher than figures seen four weeks ago.

Compared to the same time last year, rental listings were 6,326.

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