In June, the Australian residential property market tightened again. Listing volumes declined in most capitals, while asking prices continued to rise. The most recent data from SQM Research show that winter has caused a seasonal slowdown. However, in many areas, there is still less stock than usual, which puts more pressure on active buyers.
Listings Down 8.8% Nationwide
There were 8.8% fewer properties for sale in June than in May, when there were 256,628. Stock levels are 1.0% higher than they were in June 2024, which means the market is a little looser year over year. However, the drop from month to month shows that the market is getting tighter in the winter.
Melbourne had the most significant drop at -12.0%, followed by Adelaide (-10.5%), Sydney (-10.3%), and Canberra (-9.5%). Brisbane and Perth also saw monthly drops of more than 7%.
Perth is still the best place to live, with total listings up 23.5% from this time last year.
Darwin, on the other hand, had the most significant drop in total listings over the course of a year, down 32.7%.
9.1% Fewer New Listings
In June, there were only 62,769 new listings, which is 9.1% fewer than in May and 3.7% fewer than in June 2024. This is the number of homes on the market for less than 30 days.
The most significant drop in a month was in Melbourne (18.8%), followed closely by Sydney (14.2%) and Canberra (14.7%).
Perth, Brisbane, and Adelaide also saw drops in sales over the course of the month.
Darwin and Hobart were the only capitals to see an increase in new listings, but they are still down from last year.
Old Listings Go Up 13.1% Every Year:
The number of new listings is decreasing, but the number of older listing properties that have been on the market for more than 180 days remains high. In June, there were 77,018 old listings, which was 7.0% fewer than in May but 13.1% more than in June 2024.
Sydney’s old stock increased by 29.8% from last year, despite a 9.9% drop in one month.
Melbourne increased by 17.9%, and Canberra rose by 65.6%, indicating that some areas are becoming busier.
On the other hand, Darwin experienced a 49.1% annual drop, indicating that long-term listings were cleared more quickly.
Brisbane also improved, with a 7.5% yearly decline in old stock.
More Distressed Listings Go Down
In June, there were 4,543 nationally distressed listings. This was a 1.1% drop from the previous month and an 11.1% drop from the same month last year.
New South Wales experienced a 13.9% decline every year, and Queensland experienced a 16.0% decline.
Western Australia experienced the most significant drop in a year, at 23.4%, while Victoria was the only state to see a rise, at 4.6%, which suggests that financial stress is not widespread.
June’s data shows that the market is becoming more competitive for buyer agents. Low stock means increased competition, especially in cities like Adelaide, Perth, and Brisbane, where demand from buyers remains high.
In today’s competitive market, it’s essential to have the right plan and help when working with buyers. At Investmate, we help buyers navigate challenging situations by providing them with detailed information about neighborhoods, real-time data, and access to off-market deals. Our goal is to help your clients make informed choices in areas where demand is high, whether they are buying their first home or are seasoned investors.
Call us at +61 421 942 049 or book your consultation to get in touch with us today. You can also visit investmateba.com.au or click on our link to book a personalized consultation and discover how we can help you and your clients with property strategies tailored to their needs
