Fresh stock is coming onto the market ahead of the spring selling season, with SQM Research reporting a 5.2% rise in property listings during August. While this gives buyers more choice, listings remain 4.2% lower year-on-year, highlighting ongoing supply constraints.

Melbourne led the gains with an 11.5% increase, followed by Sydney at 9.8%. Most other capitals also saw rises, including Perth (9.2%), the ACT (2.9%) and Adelaide (2.1%). Hobart was the only city to record a decline, down 3%.

Looking at the past year, some markets remain tight, with Darwin listings down 36.9% and Brisbane down 11.6%.

SQM Managing Director Louis Christopher cautions against interpreting the lift as a boom signal. “The market is showing signs of life, but it’s uneven. Buyers are still discerning, and overpriced stock is sitting. Spring will be a litmus test for sentiment and price elasticity,” he says.

Overall, while more homes are hitting the market, competition remains strong. Well-priced properties are moving quickly, while inflated asking prices are struggling to attract serious buyers.