This week's property round-up

This week, Reiwa members reported a decrease in weekly sales to 490. The overall 18 per cent decrease in sales over the week is attributed to a 19 per cent decrease in sales for houses and 34 per cent for vacant land.

Unit sales, however, are up by 6 per cent over the week. It is timely to note that the overall decrease in sales this week may be attributed to the long weekend break. Total properties listed for sale recorded a marginal decrease of 1 per cent to 14,878. Listings for houses and units have decreased by 1 and 2 per cent respectively, while listings for land remain unchanged over the week.

The total number of listings recorded this week is 2 per cent lower compared with four weeks ago but is 4 per cent higher compared to the same time last year.

Turning to the rental market, Reiwa members reported total properties available for remained unchanged in percentage terms over the week at 10,620. However, this is 3 per cent higher than levels seen four weeks ago and 35 per cent higher than the same time last year.