Australia’s property market saw a notable lift in August, with national listings rising 5.2% month-on-month to 239,044.
“The August surge in listings is a seasonal lift we anticipated, but the underlying trends tell a more nuanced story,” said Louis Christopher (pictured), managing director of SQM Research.
“While total national listings rose 5.2% month-on-month, we’re still down 4.2% compared to August last year. That’s not insignificant – it suggests sellers remain cautious, and buyers are still price-sensitive.”
Sydney and Melbourne led the monthly growth, with listings up 9.8% and 11.5% respectively, though Melbourne remains 4.8% lower year-on-year. Brisbane’s listings fell 11.6% annually, while Darwin’s supply is down 36.9% year-on-year.
This caution is also reflected in the latest ANZ-Roy Morgan survey, which shows consumer confidence and spending rose after recent rate cuts, tax relief, and moderating inflation. Still, sentiment remains below recent highs as buyers and sellers stay cautious.
Nationally, new listings under 30 days surged 14.4%, with Sydney and Melbourne posting gains over 26%.
“The rise in new listings – up 14.4% nationally – is encouraging. It means fresh stock is entering the market, which is vital for liquidity,” Christopher said.
However, older listings (180+ days) also increased 5% month-on-month and 6.7% year-on-year, with Canberra’s aged stock up 64% annually.
“The increase in older listings, particularly in Canberra where stock over 180 days jumped 64%, suggests some properties are missing the mark on pricing or presentation. That’s a red flag for agents and vendors alike,” Christopher said.
Distressed listings fell 4.5% from July and 20% year-on-year, with Queensland and Western Australia seeing the steepest drops. The ACT was an exception, with distressed listings up 27.6% year-on-year.
Asking prices rose across all property types. The national average asking price for houses reached $1,296,482 – up 2.25% weekly and 6.9% year-on-year. Sydney led the weekly gains, with house prices jumping 9.17% to $2,081,082.
“Overall, the market is showing signs of life, but it’s uneven,” Christopher said. “We’re not in boom territory, and vendors need to be realistic. Buyers are still discerning, and overpriced stock is sitting. The spring season will be a litmus test for sentiment and price elasticity.”
Access the SQM Research report on its website or via LinkedIn.
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