New analysis from LJ Hooker, drawing on Cotality data, shows total advertised property listings have increased 17.9 per cent nationally over the past year, despite the number of newly listed homes falling 12.5 per cent.
The figures suggest buyers are benefiting from a wider selection of properties, with homes spending longer on the market and more time available to compare options and negotiate.
The changing conditions are also placing greater importance on accurate pricing, local market knowledge and managing vendor expectations.
LJ Hooker Head of Research Mathew Tiller said the increase in available properties needed to be considered alongside the relatively subdued flow of new listings.
“The comparison matters as the annual increase looks substantial, but it is coming off last year’s lower base,” he said.
“Nationally, advertised stock is only modestly above its recent seasonal average, while fresh listings are well below it. There is more choice for buyers than a year ago, but the national figures do not show an unusually large volume of advertised property against that five-year benchmark.”
More choice without a flood of new listings
In the rolling 28 days ending 25 October, 38,514 dwellings were newly listed nationally, 12.5 per cent below the equivalent period last year and 13.4 per cent below the five-year seasonal average.
While new listings remain below typical spring levels, total advertised stock reached 150,786 dwellings, up 17.9 per cent year-on-year.
However, total listings were just 3.1 per cent above the five-year seasonal average, suggesting the increase in available properties is relatively modest when viewed against recent seasonal conditions.
The difference between new and total listings reflects a slower rate of sales rather than a significant increase in owners bringing their homes to market.
Cotality estimates 39,266 homes sold nationally in October, down 29.3 per cent compared with October 2025, while sales over the three months to October were 23.3 per cent lower than a year earlier.
Median selling time across the capital cities also increased from 23 to 39 days in September.
National dwelling values fell 1.1 per cent in September, leaving them 5.2 per cent below their March peak.
Mr Tiller said the figures did not necessarily indicate that more homeowners were looking to sell.
“Fewer new properties are entering the market nationally, and the homes being advertised are taking longer to find buyers. Some owners with flexibility may choose to wait rather than accept a price below their expectations. Others may be uncertain about their next purchase and reluctant to commit to a move.”
Different markets offer different opportunities
The analysis also highlights significant differences between capital cities, reinforcing the importance of understanding local conditions.
In Sydney, new listings fell 28.9 per cent compared with a year earlier, while Melbourne recorded a 23.1 per cent decline.
Total advertised listings increased by a more modest 5.2 per cent in Sydney and 4.3 per cent in Melbourne.
Brisbane recorded a more substantial increase in buyer choice, with total listings rising 58.1 per cent year-on-year, despite new listings falling 12.9 per cent.
Perth’s total advertised stock increased 70.2 per cent over the year, although listings remained just 5.7 per cent above the five-year seasonal average.
Both Perth and Adelaide recorded increases in new and total listings, reflecting different supply conditions to Sydney, Melbourne and Brisbane.
Mr Tiller said the variations demonstrated why agents and their clients needed to look beyond national figures.
“For buyers and sellers, the useful question is how much comparable property is available in their own market and how quickly it is selling,” he said.
“A national percentage cannot tell an owner how much competition their particular property will face.”
Local expertise becomes increasingly important
For buyers who are financially prepared to act, the broader selection of available properties may provide more opportunities to compare homes, assess value and negotiate without the same time pressure experienced in more competitive markets.
However, increased choice does not automatically translate into substantial discounts, with recent comparable sales and local competition remaining important considerations.
For sellers, the changing market reinforces the value of working with agents who understand competing listings, buyer expectations and realistic pricing.
“For sellers, fewer fresh listings do not necessarily mean an easier sale – buyers can choose from the full pool of advertised properties, not just the latest campaigns,” Mr Tiller said.
“Pricing needs to reflect those alternatives and what buyers are currently prepared to pay.
“For our network, the focus remains on using local evidence to set expectations. Competing listings, recent sales, selling times and vendor discounting provide a more practical basis for those conversations than national listing growth alone.”
Looking ahead, the relationship between new listings and sales activity will be an important indicator of how the market develops.
If sales improve relative to the number of properties entering the market, advertised stock could begin to ease.
However, if buyer demand remains subdued, properties may continue to accumulate, increasing the importance of realistic vendor expectations.
Mr Tiller said agents should monitor sales volumes, selling times and vendor discounting alongside advertised stock.
“The market does not need a surge in new listings for sellers to face tougher competition. It only needs buyers to keep purchasing more slowly than properties become available. Whether that gap starts to close will tell us more about the next phase of the market than the number of new listings alone.”