According to the latest REA Group Listings Report, new listings were down 9.7 per cent compared to the same time last year, indicating a slower end to the autumn selling season than in 2024.
The report shows that after a busier March than in 2024, slower activity in April and May resulted in autumn overall recording a 4.9 per cent drop in new listings compared to the previous year.
Capital cities fared better than regional areas, with new listings in combined capitals up 12.1 per cent month-on-month but still down 7.6 per cent year-on-year.
Regional areas saw no monthly change but experienced a more significant annual decline of 13.3 per cent.
REA Group Senior Economist Angus Moore said that market activity picked up after the holiday period but remained subdued compared to last year.
“Despite the monthly rise, market activity was slower for the end of autumn than in 2024, with new listings down 9.7 per cent year-on-year in May,” Mr Moore said.
Sydney led the capital cities with the strongest monthly growth, recording a 21.7 per cent increase in new listings compared to April, though numbers remained 8.1 per cent below May 2024 levels.
Canberra and Darwin also saw substantial monthly increases of 24.7 per cent and 21.4 per cent respectively, though both markets were down year-on-year.
Only two capital cities bucked the annual downward trend, with Adelaide and Perth recording modest year-on-year growth in new listings of 3 per cent and 3.5 per cent, respectively.
Melbourne experienced the largest annual decline among major capitals, with new listings down 11.8 per cent compared to May 2024, despite a 9.7 per cent monthly increase.
The total number of properties available for sale nationally was relatively stable month-on-month with a slight increase of 0.1 per cent, but down 1.2 per cent compared to the same time last year.
Buyers in capital cities had slightly more choice than a year ago with total listings up 0.6 per cent annually, while those in regional areas faced more limited options with total listings down 3.1 per cent year-on-year.
Perth stood out with the strongest annual growth in total listings among capital cities at 11.6 per cent, while Darwin experienced the most significant decline, with total listings down 35.5 per cent compared to May 2024.
Regional Northern Territory was the only regional area to record positive annual growth in new listings, up 10.8 per cent compared to May 2024, though total listings in the region were down 1.4 per cent.
“Buyers have slightly less choice than a year ago as the total number of properties listed for sale in May dropped 1.2 per cent nationally,” Mr Moore said.
