This week's property round-up

This week, Reiwa members reported an increase in weekly sales to 594. The overall 3 per cent increase in sales over the week is attributed to a 51 per cent increase in sales for vacant land.

However, house and unit sales were down by 1 per cent and 6 per cent respectively over the week.

Total properties listed for sale recorded a decrease of 2 per cent to 15,007. Listings for houses, units and land have all decreased by 2 per cent. The total number of listings recorded this week remains at similar levels to four weeks ago but is 5 per cent higher than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent increased by a marginal 1 per cent over the week to 10,611. This is 3 per cent higher than levels seen four weeks ago and 39 per cent higher than the same time last year.