This week's property round-up

OPINION: Sales activity increased over the week, with Reiwa members reporting an increase in weekly sales to 691.

The overall 6 per cent rise in weekly sales is attributed to an 8 per cent increase in sales for houses and a 6 per cent increase in vacant land sales, despite unit sales decreasing by 5 per cent during the week.

Total properties listed for sale fell by 2 per cent over the week to 14,828. Listings for houses and units both fell by 2 and 3 per cent respectively, while vacant land listings increased by 1 per cent.

The total number of listings recorded this week is 1 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 10,464.

This is 1 per cent higher than levels seen four weeks ago and remains 7 per cent higher than the same time last year.