Australia’s property market saw a modest rebound in new listings over May, but activity remains softer compared to the same time last year, according to REA Group’s latest data.
Senior economist Angus Moore (pictured) said market activity “picked back up after the Easter and ANZAC Day long weekends,” with new listings up 7.6% nationally in May.
Every capital city recorded a month-on-month rise in new listings, with Canberra jumping 24.7% and Sydney up 21.7%, according to the REA Group Listings Report for May 2025.
The end of the autumn selling season in 2025 was slower than the year prior, with new listings down 9.7% year-on-year in May and autumn listings falling 4.9%.
“After a busier March than in 2024, new listings were slower in April and May,” Moore said.
The slowdown was felt in both capital cities and regional areas, although regional markets saw a more significant dip in new listings.
Nearly all capitals saw fewer new listings compared to May 2024. The only exceptions were Adelaide, up 3%, and Perth, up 3.5% year-on-year, REA Group data showed.
Melbourne, despite a 0.79% lift in prices — the strongest monthly gain among the capitals — recorded fewer new listings year-on-year. Perth, where the median home value has now overtaken Melbourne’s for the first time in a decade, continued to outperform on prices but saw fewer listings.
Buyers had slightly less choice in May, with total listings down 1.2% nationally compared to the previous year. The decline was steeper in regional markets, where listings dropped 3.1%, while the combined capital cities remained relatively stable, up just 0.6%, REA Group reported.
