This week's property round-up

Members reported a decrease in weekly sales to 564 this week. The overall 16 per cent decrease in sales over the week is attributed to a 17 per cent decrease in sales for both houses and units.

However, vacant land sales only recorded a marginal decrease of 2 per cent. Properties listed for sale increased by 2 per cent over the week to 15,391. Listings for houses and vacant land both increased by 2 per cent over the week, while unit listings increased by 1 per cent.

The total number of listings recorded this week is 5 per cent higher than four weeks ago but remains 9 per cent lower 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 10,688. This also represents a 1 per cent decrease compared with four weeks ago but still remains 15 per cent higher than the same time last year.