Listings activity
The national listing trend reveals the fundamental supply shortage that continues to underpin market strength, with new listing volumes consistently below both 2023 and 2024 levels throughout 2025. July’s preliminary data shows 35,989 new listings nationally, trending marginally ahead of 2023 July data. These results highlight the constrained supply conditions that have driven competitive bidding and sustained price growth.
This persistent undersupply, combined with limited construction activity and population growth pressures, creates the foundation for continued price appreciation once monetary policy easing resumes. The gap between current listing levels and historical norms demonstrates the structural imbalance that has characterised Australian property markets, explaining the resilience shown even during periods of interest rate uncertainty.
New listing activity across major cities tells a story of persistent supply constraints, with combined major cities recording just 26,862 new listings in July 2025. The annual decline of 11.1 per cent underscores the ongoing shortage of properties coming to market, creating the competitive conditions that have sustained price growth throughout the interest rate cycle.
Sydney leads absolute volumes with 8,475 new listings, though this represents only modest 1.1 per cent annual growth. Melbourne’s 7,391 listings show a concerning 12.6 per cent annual decline, while Brisbane’s 3,707 properties reflect an 11.4 per cent drop year-on-year. The most dramatic reductions are evident in Adelaide (-29.0 per cent), Perth (-20.3 per cent) and the Sunshine Coast (-20.5 per cent), highlighting the supply shortage that continues to drive competitive bidding conditions across these markets.
Regional listing activity presents an even more constrained picture, with combined regional areas recording just 12,699 new listings in July, down 17.0 per cent annually. This supply shortage is most pronounced in regional New South Wales (-21.3 per cent), regional Queensland (-16.7 per cent) and regional Victoria (-13.7 per cent), creating the scarcity conditions that have sustained regional price appreciation.
The monthly data shows mixed results, with regional Western Australia posting a strong 13.3 per cent increase and regional Northern Territory up 12.2 per cent, offsetting declines in other states. However, the annual trends reveal a systematic reduction in available properties across most regional markets, explaining the sustained competitive pressure and price growth that has characterised these areas throughout 2025.
