Australia’s housing market saw a sharp lift in listings last month, with fresh stock hitting the market ahead of the spring selling season. But rising volumes of older, unsold properties highlight ongoing mismatches between what vendors want and what buyers are prepared to pay.
Figures from SQM Research show national property listings rose 5.2 per cent in August to 239,044, driven by strong growth in Sydney, Melbourne and Canberra.
However, total listings remain 4.2 per cent lower than the same month last year, underscoring persistent caution among sellers and buyers.
Fresh supply on the rise
New listings under 30 days jumped 14.4 per cent nationwide, with Sydney and Melbourne recording gains of more than 26 per cent as vendors timed campaigns for spring.
Canberra also posted a 24.6 per cent monthly lift, reflecting renewed confidence in the capital.
Louis Christopher, managing director of SQM Research, said the influx of new listings was “encouraging” and would help market liquidity.
“It means fresh stock is entering the market, which is vital. But the increase in older listings suggests some properties are missing the mark on pricing or presentation,” he said.
Old stock builds up
Nationally, listings that have sat on the market for more than 180 days rose 5 per cent in August and 6.7 per cent compared with a year ago.
Canberra stood out with a 64.3 per cent annual increase in aged stock, a red flag that homes are being pitched above what buyers are willing to pay.
Darwin’s market continues to contract, with total listings down nearly 37 per cent year-on-year.
Yet even there, the proportion of distressed or forced sales remains elevated, pointing to financial strain among some households.
Prices on the move
Despite more stock coming to market, asking prices continued to rise.
The national average asking price for houses climbed to $1.29 million, up 2.25 per cent in a single week and 6.9 per cent over the year.
Sydney led the charge with a 9.17 per cent weekly jump, pushing the average house price above $2 million.
Mr Christopher warned the spring selling season would be a key test.
“Overall, the market is showing signs of life, but it’s uneven. We’re not in boom territory, and vendors need to be realistic. Buyers are still discerning, and overpriced stock is sitting,” he said.
