This week's property round-up

Sales activity experienced a contraction over the week with REIWA members reporting a decrease in weekly sales to 488.

The 16 per cent overall weekly sales is attributed to a 12 per cent decrease in sales for houses, a 35 per cent fall in unit sales, and a 17 per cent dip in vacant land sales over the week. However, it is timely to note that the lower transaction numbers this week may be attributed to the shortened week due to the Queen’s Birthday holiday.


Total properties listed for sale remained stable over the week at 13,262. Listings for houses increased by one per cent while unit and vacant land listings remained stable. The total number of listings recorded this week is unchanged in comparison with four weeks ago but is 8 per cent lower compared with the same time last year.


In the rental market, members reported total properties for rent decreased over the week to 9,792. This is 4 per cent lower than levels of four weeks ago and is 8 per cent lower than the same time last year.