Monthly increase a plus but numbers are still down annually
Listings lifted last month but are still well below the same point last year as the market continues to fluctuate.
HOUSE listing numbers rose in March but confusion still reigns over what has been described as a “complex housing market”.
Australia recorded a further lift in listings during March, with total national residential stock rising 3.5 per cent to 234,734 dwellings, reflecting a continued post-summer recovery in supply, according to SQM Research.
Sydney (+5.3 per cent) and Melbourne (+2.9 per cent) posted steady gains and are now both above last year’s levels.
Brisbane rose 6.3 per cent, though remains 15.4 per cent lower year-on-year, highlighting ongoing tightness in that market.
Perth recorded a notable surge in listings, rising 12 per cent month-on-month to 12,587 dwellings, the strongest increase nationally.
Despite this sharp rebound, Perth listings remain 21.7 per cent below March 2025 levels, underscoring how constrained supply had become prior to this lift.
Adelaide (+6.6 per cent) also recorded a solid rise, while Canberra increased more modestly (+0.7 per cent). Darwin (+1 per cent) and Hobart (+1 per cent) were broadly steady, though both remain significantly lower than last year.
“March’s figures highlight what is becoming an increasingly complex housing market,” Louis Christopher, managing director of SQM Research, said.
“On the one hand, we are seeing a steady lift in listings nationally and particularly strong rebounds in markets like Perth. That surge in Perth listings is notable and reflects how tight that market had become.
“At the same time, the data is quite mixed. Some cities are seeing rising new listings, others are pulling back slightly, and price movements are uneven on a month-to-month basis.
“Importantly, total listings are still below last year’s levels and distressed listings remain low.
“That combination continues to support prices, even as we start to see more supply come back into the market.
“The key question over the coming months will be whether this increase in listings gathers pace. If it does, we may see some moderation in price growth.
“If not, the current supply constraints are likely to persist.”
Nationally, asking prices eased slightly over the month, with houses down 0.5 per cent, units up
0.3 per cent and combined dwellings falling 0.4 per cent, while still 12 per cent higher year-on-year.
