Finalised unit sales have hit their lowest point in eight years.

Buyers could find themselves in a better negotiating position after CoreLogic RP Data figures revealed transaction levels were trending lower at the same time that price growth had cooled.

Nationally house sales numbers dropped by 3.7 per cent in the year to April while the number of unit sales took a bigger dive - down 9.7 per cent.

Capital city markets performed even worse with house sales down by 5.7 per cent and unit sales down by 12.2 per cent.

CoreLogic RP Data analyst Cameron Kusher said the proportion of unit sales in capital cities was at its lowest level since January 2013 and the number of house sales at the lowest point since 2013.

He said property sales had dropped in most capital cities, while at the same time price growth had slowed.

NO REAL SWEETENERS FOR PROPERTY IN BUDGET

The number of settled unit sales has dropped nationally.Source:ThinkStock

Mr Kusher said the high costs associated with exiting a property such as agent commissions, and stamp duty for the buyer, were both likely to be major deterrents to sales levels picking up.

This was despite continued population growth in many capital cities.

“In June 2002, the national population was estimated to be 19.5 million persons compared to current estimates at 24.1 million, yet transaction volumes are currently much lower than they were in mid-2002,’’ Mr Kusher said.

“With fewer transactions in the market and tighter mortgage lending conditions, we’re expecting to see less upward pressure on home values as we progress through 2016.’’

The slump in sales came as figures revealed a lift in the number of properties listed for sale during April.

SQM Research found that the number of properties listed for sale increased by 4.1 per cent from March to April, to 366,151 properties.

It said this “abnormally high’’ level of listings could be in part because of the extra ‘weekend’ of sales activity, with five weekends during April.

Despite that, year on year there had been a “sizeable’’ increase in listings in some capital cities, it said.

Nationally listings increased 5.2 per cent for the year.

Sydney had the biggest increase of 37.8 per cent compared with last year, while Canberra levels rose by 15.1 per cent.

Brisbane listings rose by 12.8 per cent, Perth, 9.2 per cent and Adelaide 9.1 per cent.

Melbourne increased by 8.4 per cent and Darwin by 6.7 per cent.

There were fewer properties to choose from in Hobart where listings dropped by 5.2 per cent