This week's property round-up

OPINION: Sales activity contracted over the week with Reiwa members reporting a decrease in weekly sales to 676.

The overall 6 per cent fall in weekly sales is attributed to an 8 per cent decrease in sales for houses and a 9 per cent decrease in unit sales, despite a 12 per cent increase for vacant land sales.

Total properties listed for sale remained stable over the week at 14,756. Listings for house, unit and vacant land listings all remained flat. The total number of listings recorded this week is 1 per cent higher than four weeks ago, however is 2 per cent than the same time last year.

Turning to the rental market, Reiwa members reported total properties available for rent declined by a marginal 1 per cent to 10,352. This is 3 per cent lower than four weeks ago but 11 per cent higher than the same time last year.