OPINION: Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 567.
Sales activity contracted over the week, with Reiwa members reporting a decrease in weekly sales to 567.
The overall 8 per cent fall in weekly sales is attributed to a 17 per cent decrease in sales for houses and a 2 per cent decrease in unit sales despite a 20 per cent increase for vacant land sales.
Total properties listed for sale decreased by 2 per cent over the week to 14,314. Listings for all houses, units, and vacant land fell by 2, 2 and 4 per cent respectively.
The total number of listings recorded this week is 3 per cent higher than four weeks ago, however is 2 per cent lower compared with the same time last year.
Turning to the rental market, Reiwa members reported total properties available for rent declined by 2 per cent to 10,476. This is 1 per cent lower than four weeks ago but 9 per cent higher than the same time last year.