This week's property round-up

OPINION: Reiwa members reported a decline in weekly sales to 552. The overall 9 per cent decrease in weekly sales is attributed to a 4 per cent decrease in sales for houses, 23 per cent for units and 27 per cent for vacant land.

However, it is timely to note that the lower transaction numbers this week may be attributed to seasonal factors commonly seen in the lead up to Christmas.

Total properties listed for sale decreased by 1 per cent over the week to 15,423. Listings for houses, units and vacant land each decreased by 1 per cent over the week. The total number of listings recorded this week is 7 per cent lower thanfour weeks ago but 22 per cent higher than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent remained stable over the week at 10,518. This is 1 per cent lower compared to four weeks ago but remains 12 per cent higher than the same time last year.