Australia’s housing market saw a notable lift in property listings in March, with national stock rising 3.5% to 234,734 dwellings. For mortgage brokers, this rebound signals fresh opportunities for first-home buyers and property investors navigating borrowing capacity amid fluctuating mortgage rates.
SQM Research noted that “total national property listings rose 3.5% month-on-month in March to 234,734 dwellings,” highlighting a seasonal recovery in supply. While listings remain 6.7% lower year-on-year, the increase suggests vendors are re-engaging after a subdued summer period.
Affordability, however, remains a challenge. New research shows more non‑owners are giving up on buying altogether, reflecting how high mortgage rates and prices are reshaping demand.
Perth recorded the strongest monthly increase, with listings jumping 12% to 12,587 dwellings. Despite this sharp rise, supply remains 21.7% below March 2025 levels, underscoring how tight conditions had become.
“Perth recorded a standout surge in listings (+12%), the strongest increase of all capital cities,” SQM Research said.
Other capitals also posted gains: Brisbane rose 6.3%, Adelaide 6.6%, and Sydney 5.3%. Melbourne saw a more modest 2.9% lift, while Canberra, Darwin, and Hobart were broadly steady.
Nationally, new listings increased 3.8% in March and are now 5.4% higher year-on-year, pointing to gradual improvement in overall supply. Smaller markets such as Darwin (+23.2%) and Hobart (+7.1%) showed particularly strong momentum.
Older stock rose 1.4% nationally, with Perth and Adelaide recording notable increases, suggesting some accumulation of longer-dated properties.
Distressed listings remained stable, up just 0.3%, and are still 29.3% lower than a year ago—an encouraging sign for market stability.
Despite mixed monthly movements, asking prices remain 12% higher year-on-year. Perth continued to show strong momentum, with combined asking prices rising 3.5% in March and 18% annually.
For more property insights, head over to the SQM Research website.
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