According to Domain’s April 2025 Market Insights, new supply reached a four-month low, marking the lowest April figures since 2023.
Annual growth in new listings declined for the first time since March 2024, signalling a shift in market momentum.
Total supply also decreased to a three-month low, though April figures remain the highest since 2022 for the month.
The report indicates that while total listings are higher than a year ago, growth is beginning to ease as active buyers absorb available stock more quickly.
Auction performance reflected the broader market slowdown, with clearance rates declining for the second consecutive month.
Despite this dip, rates remain stronger than those seen in the latter half of 2024, when they averaged 60.4 per cent.
Auction volumes fell to their lowest April levels since 2023, primarily due to the impact of two national public holidays.
Domain’s Chief of Research and Economics, Dr Nicola Powell, said the April slowdown was anticipated given the calendar.
“The April slowdown in buyer and seller activity was no surprise, with back-to-back long weekends and the Federal Election disrupting normal market flow,” Dr Powell said.
“Still, quarterly buyer demand is up year-on-year in most capitals, especially in previously slower markets like Sydney, Melbourne, and Canberra.”
Despite the overall slowdown, homes are selling faster in most cities, with days on market decreasing across all capital cities except Canberra.
This suggests underlying buyer demand remains strong despite the temporary disruptions.
Local markets continue to show some big differences across the country.
Discounting increased in Canberra and Brisbane, suggesting sellers may be adjusting expectations in these markets.
Meanwhile, Adelaide and Hobart saw reduced discounting, indicating stronger buyer competition in these regions.
Dr Powell said that many sellers had adjusted their timing in response to the anticipated April disruptions.
“Fewer new listings in April were expected, as many sellers brought forward their plans earlier in the year,” she said.
“Some also likely paused due to election uncertainty, but we could see momentum pick up again in May.
“The market appears to be moving from peak volumes to a more balanced, sustainable pace.”
