This week's property round-up

OPINION: Sales activity experienced a contraction over the week, with Reiwa members reporting a decrease in weekly sales to 650.

The overall 2 per cent fall in weekly sales is attributed to a 1 per cent decrease in sales for units and a 10 per cent decrease in lands sales, despite house sales remaining stable over the week.

Total properties listed for sale grew by 1 per cent over the week to 15,030. Listings for houses and units both lifted by 1 per cent, while vacant land listings decreased by a marginal 1 per cent.

The total number of listings recorded this week is 2 per cent higher than four weeks ago, however is 3 per cent lower 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 10,486. This is 1 per cent higher than levels seen four weeks ago but remains 10 per cent higher than the same time last year.