Listings activity
May listing data shows a continued limited market supply, with new listings reaching 38,884 properties nationally. This represents a 9.4 per cent monthly increase from April’s 35,501 listings, yet marks a significant 11.8 per cent annual decline compared to May 2024’s 44,062 properties. The trajectory shows 2025 consistently tracking well below both 2023 and 2024 levels throughout the year, creating the tightest supply conditions seen in recent years.
Despite the typical seasonal moderation as the market enters the historically quieter winter months, the magnitude of the annual decline highlights severe supply constraints. This persistent shortage of properties coming to market represents a critical factor underpinning the current price acceleration, as buyer demand significantly outstrips available stock across most Australian markets.
May listing data shows a continued limited market supply, with new listings reaching 38,884 properties nationally. This represents a 9.4 per cent monthly increase from April’s 35,501 listings, yet marks a significant 11.8 per cent annual decline compared to May 2024’s 44,062 properties. The trajectory shows 2025 consistently tracking well below both 2023 and 2024 levels throughout the year, creating the tightest supply conditions seen in recent years.
Despite the typical seasonal moderation as the market enters the historically quieter winter months, the magnitude of the annual decline highlights severe supply constraints. This persistent shortage of properties coming to market represents a critical factor underpinning the current price acceleration, as buyer demand significantly outstrips available stock across most Australian markets.
Major cities recorded 29,150 new properties in May, representing a 12.7 per cent monthly increase but a 10.0 per cent annual decline. Sydney dominated with 8,752 listings, though this marked a significant 19.5 per cent monthly surge against a modest 3.0 per cent annual decline. Melbourne contributed 8,316 properties with a strong 12.1 per cent monthly gain, yet recorded a substantial 17.6 per cent annual decrease. Brisbane’s 3,786 listings reflected a 12.1 per cent monthly increase despite a 10.7 per cent annual reduction. Perth’s 3,353 listings showed a 5.0 per cent monthly gain but a 6.1 per cent annual decline. Canberra experienced the most dramatic monthly surge of 31.0 per cent, though annual figures remained 3.0 per cent below 2024 levels. Notably, several smaller markets including Darwin, Gold Coast, and Sunshine Coast recorded significant annual declines, indicating tight supply conditions in these growth markets.
Regional markets posted 13,396 new listings in May, showing a modest 1.8 per cent monthly increase but a significant 16.1 per cent annual decline. Regional Queensland led absolute volumes with 4,952 listings, achieving an 8.8 per cent monthly gain despite a 14.1 per cent annual reduction. Regional New South Wales followed with 4,022 listings, though recording a 2.2 per cent monthly decline and substantial 19.5 per cent annual decrease. Regional Victoria contributed 2,567 listings with a 1.9 per cent monthly decline and 16.0 per cent annual drop. Regional Western Australia posted 768 listings, down 1.0 per cent monthly and 19.7 per cent annually. The Northern Territory emerged as the standout performer with a 43.9 per cent monthly surge, achieving 18.0 per cent annual growth from a modest base of 59 listings, highlighting varying supply dynamics across regional Australia.
Regional markets show a similar pattern with combined listings down 5.3 per cent for the month to 12,556 properties and 13.4 per cent annually. Regional Queensland and Northern Territory recorded modest monthly increases in listing activity at 1.2 per cent and 2.5 per cent respectively, though both regions remain well below their 2024 levels with year-on-year declines of 16.9 per cent and 28.1 per cent.
Regional Western Australia and Tasmania saw the largest monthly decreases at 10.1 per cent and 9.5 per cent respectively, while regional South Australia demonstrated the smallest annual decline at just 1.5 per cent. These varying listing patterns reflect the different stages of market cycles across regional Australia, with the overall trend pointing to continued supply constraints supporting price growth.
