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Ahmad Imam Square Wide Lo Rez 400.jpglouis Christopher
By Louis Christopher
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Latest Property Asking Prices State by State | Vendors remain confident with asking prices rising 0.8%

key takeaways

Key takeaways

Total listings increased by 0.9% for the month of March

Year on year (March), total property listings decreased by 1.7%

New property listings recorded a decline of 5.5% compared to March 2024.

Canberra, Darwin, Sydney and Perth record lift in new listings, rising by 4.1%, 45.1%, 2.3% and 3.4% compared to same period, last year

Nationally, house prices increased by 0.8%, while unit prices increased by 0.7%, resulting in a combined increase of 0.8%.

Among capital cities, the average asking price rose by 0.6%, with houses increasing by 0.5% and by 0.9%.

Sydney’s market saw house prices rising by 0.9% and unit prices increase by 0.4%, leading to an increase of combined asking prices to 0.8%.

In Melbourne, house prices rose by 0.5%, and unit prices by 0.4%, resulting in a combined increase of 0.8%.

Brisbane experienced a rise in house prices by 1.4% and 1.9% in unit prices, with an overall incline of 1.5%.

Perth was the top performer with unit prices rising by 5.4% and house prices increasing by 1.4%, leading to a combined gain of 2.1%.

Adelaide house prices saw a slight rise at 0.3% and unit prices increased by 0.7%, with the combined index up by 0.4%.

Darwin house prices increased by 1.4% and unit prices decreased by 0.8%, leading to a combined growth of 0.8%.

Hobart saw an increase in house prices of 1.2% and unit prices increasing by 1 %, resulting in a combined rate increase of 1.2%.

Canberra had a decrease in house prices by 2.5% and an increase in unit prices by 0.4%, leading to a combined decrease of 1.9%.

Surge

Meanwhile, according to data released by SQM Research, total nationwide residential property listings increased by 0.9% over the month of March 2025, reaching 251,605 listed properties.

However, this marks a 1.7% decline compared to a year earlier (March 2024).

There was a monthly increase in listings across most major cities.

Perth recorded the highest monthly rise at 6.3% and a 5.3% yearly increase with listings reaching 16,080.

Sydney experienced a monthly rise of 4.3%, with listings reaching 34,686, 5.7% higher than the same time last year.

Melbourne recorded a slight increase of 1.0% month-on-month, bringing total listings to 40,357, reflecting a 2.3% yearly decline.

Brisbane saw a decline of 0.8% compared to February and a 9.8% yearly decline.

Adelaide recorded a 3.1% monthly increase and a yearly decline of 7.3%.

Hobart saw monthly and yearly gains of 2.4% and 4.2% respectively.

Canberra posted a strong yearly growth of 11.4%, and a 0.6.% monthly increase in listings.

Darwin experienced a 1.5% monthly increase but saw a yearly decline, with listings falling by 28.6% compared to March 2024.

Total Listings of Properties for Sale

City March 2025 Total February 2025 Total March 2024 Total Monthly change Yearly Change %
Sydney 34,686 33,241 32,803 4.3% 5.7%
Melbourne 40,357 39,956 41,297 1.0% -2.3%
Brisbane 16,348 16,479 18,130 -0.8% -9.8%
Perth 16,080 15,129 15,266 6.3% 5.3%
Adelaide 8,488 8,232 9,158 3.1% -7.3%
Canberra 4,689 4,661 4,208 0.6% 11.4%
Darwin 1,126 1,109 1,577 1.5% -28.6%
Hobart 3,224 3,149 3,095 2.4% 4.2%
National 251,605 249,325 256,000 0.9% -1.7%

Source: SQM Research

New Listings

Nationally, new residential property listings (less than 30 days) decreased by 1.6% in March 2025, decreasing listings to 74,951 properties nationwide.

This represents a 5.5% decline compared to March 2024.

Darwin, Melbourne and Perth led the new listings monthly increase with a 37.2%, 3.4% and 3% increase, with a 45.1% yearly increase for Darwin, a 3.4% decrease for Melbourne and a 3.4% increase for Perth from the previous year.

Brisbane and Hobart also saw a monthly decrease of 13.2% and 1.1%, marking an annual decline of 15.9% and 7%.

Adelaide saw a monthly increase of 2%, and a yearly decline of 3.1%, while Canberra recorded a month-on-month decrease of 2% and a 4.1%, increase over the year compared to March 2024.

New Listings of properties for sale (less than 30 days)

City March 2025 Total February 2025 Total March 2024 Total Monthly change Yearly Change %
Sydney 16,507 16,058 16,142 2.8% 2.3%
Melbourne 17,722 17,134 18,340 3.4% -3.4%
Brisbane 6,880 7,923 8,182 -13.2% -15.9%
Perth 6,773 6,574 6,549 3.0% 3.4%
Adelaide 4,171 4,091 4,303 2.0% -3.1%
Canberra 1,904 1,943 1,829 -2.0% 4.1%
Darwin 354 258 244 37.2% 45.1%
Hobart 774 783 832 -1.1% -7.0%
National 74,951 76,159 79,296 -1.6% -5.5%

Source: SQM Research

Old Listings

The number of older residential property listings (properties listed for over 180 days) increased by 3.6% nationally in March 2025, reaching 74,877 properties.

This marks a 7.7% rise compared to March 2024.

Darwin saw a decrease in old listings over the month by 23.3% and a significant yearly decrease of 39.1%.

Perth, Canberra and Adelaide saw an increase over the month by 15.2%, 10.3% and 6.2%.

Perth and Adelaide experienced yearly declines of 22.4% and 24.4%.

However, Canberra’s old listings increased by 44.5%

Hobart recorded a 1.1% decrease for the month, although compared with March 2024, experienced a notable increase over the year of 32%.

Melbourne listings fell slightly for the month at 0.9% although over the year had a rise of 11.3%.

Sydney’s older listings saw an increase over the month by 4.6%, with a strong annual increase of 23.7% compared with March 2024.

Overall, the data highlights a yearly increase in older listings for cities, such as Sydney, Melbourne, Canberra and Perth.

City Mar-25 Feb-25 Mar-24 Monthly change Yearly Change %
Sydney 6,442 6,161 5,207 4.6% 23.7%
Melbourne 8,771 8,851 7,877 -0.9% 11.3%
Brisbane 1,768 1,735 2,262 1.9% -21.8%
Perth 1,694 1,471 2,183 15.2% -22.4%
Adelaide 913 860 1,207 6.2% -24.4%
Canberra 844 765 584 10.3% 44.5%
Darwin 394 514 647 -23.3% -39.1%
Hobart 1,183 1,196 896 -1.1% 32.0%
National 74,877 72,276 69,542 3.6% 7.7%

Source: SQM Research

Distressed Listings

According to SQM Research’s March 2025 report, the number of residential properties listed under distressed conditions in Australia increased to 4,970, reflecting a 0.5% rise from the previous month.

Despite this, distressed listings remain 7.1% lower year-on-year, indicating distressed activity overall remains at benign levels.

NSW recorded a 0.7% monthly increase in distressed listings; however, figures are 5.7% lower than in March 2024.

VIC saw a 0.2% monthly rise and 8% annually.

QLD recorded a 1.2% monthly increase, though figures are 19.2% lower year-on-year.

SA and TAS reported a 2.8%, and 4.3% increase, while the ACT again had the most significant monthly increase, with distressed listings at 48%, and 60.9% higher than a year ago.

NT and WA experienced monthly declines of 0.9% and 3.7%. distressed listings at 112 and 700 respectively.

Over the past 12 months, VIC recorded a yearly rise of 8.2% and a 0.2% monthly increase.

Distressed Property Listings

State Mar 2025 Total Listings Monthly change Yearly change
NSW 1,253 0.7% -5.7%
VIC 1,107 0.2% 8.0%
QLD 1,383 1.2% -19.2%
WA 700 -3.7% -17.0%
SA 256 2.8% 21.3%
ACT 37 48.0% 60.9%
NT 112 -0.9% 0.9%
TAS 122 4.3% 27.1%
National 4,970 0.5% -7.1%

Source: SQM Research

Asking Prices

Sydney Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,998,243 -12.153 0.9% 4.9%
All Units 844,012 0.388 0.4% 5.5%
Combined 1,529,369 -7.059 0.8% 4.7%

Source: SQM Research

Melbourne Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,264,398 1.990 0.5% 0.7%
All Units 623,398 2.002 1.1% 2.9%
Combined 1,062,328 1.994 0.6% 0.9%

Source: SQM Research

Perth Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,119,890 4.002 1.4% 16.0%
All Units 651,971 5.673 5.4% 29.1%
Combined 997,425 4.439 2.1% 18.0%

Source: SQM Research

Brisbane Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,216,703 -0.968 1.4% 13.8%
All Units 713,366 3.134 1.9% 20.3%
Combined 1,090,477 0.060 1.5% 14.7%

Source: SQM Research.

Adelaide Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,016,488 2.312 0.3% 15.2%
All Units 536,834 -1.634 0.7% 21.3%
Combined 930,277 1.603 0.4% 15.7%

Source: SQM Research

Canberra Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,164,833 -7.471 -2.5% -1.4%
All Units 598,623 3.364 0.4% 0.8%
Combined 955,048 -3.457 -1.9% -1.4%

Source: SQM Research

Darwin Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 735,099 -1.499 1.4% 10.7%
All Units 400,715 1.785 -0.8% 7.0%
Combined 603,822 -0.210 0.8% 9.7%

Source: SQM Research

Hobart Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 822,802 1.925 1.2% 2.4%
All Units 504,538 4.062 1.0% 0.1%
Combined 774,447 2.250 1.2% 2.1%

Source: SQM Research

National Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 974,093 -2.588 0.8% 7.1%
All Units 579,558 0.725 0.7% 8.1%
Combined 888,965 -1.873 0.8% 7.1%

Source: SQM Research

Capital City Average Weekly Asking Prices Index

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,439,915 -11.757 0.5% 5.6%
All Units 728,564 0.541 0.9% 8.0%
Combined 1,228,631 -8.104 0.6% 5.8%

Source: SQM Research

Final note...

Overall, listings activity was stable for the month of March. However, there was another uptick in older listings, particularly for the city of Perth which recorded a 15% jump.

This is an indicator that the Perth housing market might be slowing in activity.

Going forward, with the Federal election now called, its quite likely we will see reduced activity levels in the housing market until after election day.

The RBA not cutting interest rates may also cool the heels of would-be home buyers.

Ahmad Imam Square Wide Lo Rez 400.jpglouis Christopher
About Louis Christopher Louis is recognised as one of Australia’s most respected and impartial research property analyst. He has extensive knowledge and experience of property and is regularly quoted in the media on his insights and is director of SQM Research.
Visit www.SQMResearch.com.au
2 comments

So Perth has officially caught up with Adelaide?

1 reply

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