Key takeaways
Total listings rose by 4.5% for the month of January
Year on year (January), total property listings rise by 10.3%
New property listings recorded a large rise of 18.1% compared to January 2024.
Canberra records largest lift in new listings, rising by 41.8% compared to same period, last year
Nationally, house prices increased by 0.8%, while unit prices declined by 0.4%, resulting in a combined increase of 0.7%.
Among capital cities, the average asking price fell by 0.7%, with houses declining by 0.8% and units remaining unchanged.
Sydney’s market saw stability overall, with house prices falling by 0.2% while unit prices increased by 0.8%, leading to no significant change in combined asking prices.
In Melbourne, house prices dropped by 0.7%, and unit prices fell slightly by 0.2%, resulting in a combined decrease of 0.6%.
Brisbane saw a minor dip in house prices by 0.2% but a 0.4% rise in unit prices, keeping the overall decline to just 0.1%.
Perth continued its strong growth, with unit prices rising by 1.4% and house prices increasing by 0.7%, leading to a combined gain of 0.8%.
Adelaide emerged as one of the top performers, with house prices climbing by 1.5% and unit prices surging by 3.2%, pushing the combined index up by 1.7%.
Darwin also showed solid gains, with house prices rising by 2.0% and unit prices increasing by 0.2%, leading to a combined growth of 1.5%.
Hobart continued its positive trend, with house prices up 1.3% and unit prices increasing by 1.1%, resulting in an overall rise of 1.3%.
However, Canberra was the weakest performer, with house prices falling by 1.2%, despite unit prices increasing by 1.5%, leading to a combined decrease of 0.6%.
Overall, while Sydney, Melbourne and Brisbane saw declines, strong performances in Adelaide, Perth, and Darwin contributed to overall national growth in asking prices.
Meanwhile, according to data released by SQM Research, total nationwide residential property listings increased by 4.5% over the month of January 2025, reaching 243,642 listed properties.
This marks a strong 10.3% rise compared to January 2024.
The increase in listings was evident across most major cities.
Sydney saw a notable monthly rise of 7.3%, with listings reaching 29,791—19.0% higher than the same time last year.
Melbourne also experienced an increase of 2.1% month-on-month, bringing total listings to 37,873, reflecting a 15.9% yearly rise.
Brisbane recorded the highest monthly rise at 9.8%, reaching 16,241 listings, with a modest yearly increase of 4.4%.
Perth followed with a 7.9% monthly rise and a 5.0% increase year-on-year.
Adelaide and Hobart saw monthly gains of 6.0% and 6.8%, respectively, though Adelaide was the only capital city to record a slight annual decline of 1.4%.
Canberra posted a strong yearly growth of 30.7%, with a 3.3% monthly increase in listings.
However, Darwin was the only capital city to experience both a monthly and yearly decline, with listings falling by 1.3% in January 2025 and dropping 24.1% compared to January 2024.
The data suggests a strong start to 2025 with property listings sharply up across most regions, with notable year-on-year increases in Sydney, Melbourne, and Canberra.
However, it should be noted that the rise in listings appears to be with the private treaty market.
As auction listings have started off the first two weeks in February down by approximately 7% compared to the first two weeks of February 2024.
Total Listings of Properties for Sale
| City | January 2025 Total | December 2024 Total | January 2024 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 29,791 | 27,775 | 25,031 | 7.3% | 19.0% |
| Melbourne | 37,873 | 37,087 | 32,684 | 2.1% | 15.9% |
| Brisbane | 16,241 | 14,793 | 15,556 | 9.8% | 4.4% |
| Perth | 15,271 | 14,147 | 14,546 | 7.9% | 5.0% |
| Adelaide | 7,857 | 7,410 | 7,970 | 6.0% | -1.4% |
| Canberra | 4,304 | 4,167 | 3,293 | 3.3% | 30.7% |
| Darwin | 1,127 | 1,142 | 1,485 | -1.3% | -24.1% |
| Hobart | 3,116 | 2,917 | 2,714 | 6.8% | 14.8% |
| National | 243,642 | 233,094 | 220,956 | 4.5% | 10.3% |
Source: SQM Research
New Listings
Nationally, new residential property listings (less than 30 days) increased by 2.9% in January 2025, reaching 53,019 properties nationwide.
This represents an 18.1% rise compared to January 2024.
Sydney led the monthly increase with a significant 61.5% jump in new listings, reaching 10,027 properties—24.9% higher than the previous year.
Brisbane also saw a strong monthly increase of 32.7%, with listings reaching 5,898, marking an 18.4% annual rise.
Melbourne recorded a more modest monthly increase of 3.9%, bringing total new listings to 10,504, while also showing a strong yearly increase of 27.2%.
Canberra continued its upward trend, rising 10.4% in January and posting the highest annual growth among all cities at 41.8%.
However, some cities experienced declines.
Perth saw a slight monthly drop of 2.9%, despite a 6.2% yearly increase.
Darwin recorded the largest monthly decline at -12.7%, with new listings falling to 131 properties—marking a steep 35.5% drop compared to January 2024.
Hobart also saw a slight monthly decrease of 1.9%, though it maintained a strong 27.4% yearly increase.
The data highlights a resurgence in new listings nationwide, with significant growth in key cities such as Sydney, Brisbane, and Canberra, despite continued weakness in Darwin.
New Listings of properties for sale (less than 30 days)
| City | January 2025 Total | December 2024 Total | January 2024 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 10,027 | 6,207 | 8,027 | 61.5% | 24.9% |
| Melbourne | 10,504 | 10,109 | 8,255 | 3.9% | 27.2% |
| Brisbane | 5,898 | 4,445 | 4,983 | 32.7% | 18.4% |
| Perth | 4,714 | 4,853 | 4,438 | -2.9% | 6.2% |
| Adelaide | 2,905 | 2,879 | 2,637 | 0.9% | 10.2% |
| Canberra | 1,214 | 1,100 | 856 | 10.4% | 41.8% |
| Darwin | 131 | 150 | 203 | -12.7% | -35.5% |
| Hobart | 530 | 540 | 416 | -1.9% | 27.4% |
| National | 53,019 | 51,507 | 44,883 | 2.9% | 18.1% |
Source: SQM Research
Old Listings
The number of older residential property listings (properties listed for over 180 days) increased by 7.2% nationally in January 2025, reaching 71,835 properties.
This marks a 15.1% rise compared to January 2024.
Perth recorded the most significant monthly increase, with older listings rising by 21.3% to 1,582 properties.
Canberra and Adelaide also saw notable monthly increases of 11.8% and 12.9%, respectively, while Melbourne recorded a 10.1% rise, bringing total old listings to 9,102.
Sydney’s older listings rose by 7.1% for the month, with a strong annual increase of 20.7%.
Brisbane saw a similar monthly increase of 7.0%, although it experienced a yearly decline of 21.4%.
Hobart recorded a 6.7% monthly increase, with the largest annual jump among all cities at 62.8%.
On the other hand, Darwin had the smallest monthly rise at 1.6%, with older listings reaching 570 properties, representing a 7.9% yearly decline.
Perth and Adelaide saw the steepest annual drops, with declines of 37.6% and 23.1%, respectively.
Overall, the data highlights a continued upward trend in older listings nationally, with significant increases in Canberra, Melbourne, and Hobart, while some cities, such as Brisbane and Perth, experienced notable yearly declines.
| City | Jan-25 | Dec-24 | Jan-24 | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 6,082 | 5,677 | 5,040 | 7.1% | 20.7% |
| Melbourne | 9,102 | 8,265 | 7,636 | 10.1% | 19.2% |
| Brisbane | 1,779 | 1,662 | 2,262 | 7.0% | -21.4% |
| Perth | 1,582 | 1,304 | 2,534 | 21.3% | -37.6% |
| Adelaide | 892 | 790 | 1,160 | 12.9% | -23.1% |
| Canberra | 768 | 687 | 475 | 11.8% | 61.7% |
| Darwin | 570 | 561 | 619 | 1.6% | -7.9% |
| Hobart | 1,283 | 1,202 | 788 | 6.7% | 62.8% |
| National | 71,835 | 67,009 | 62,412 | 7.2% | 15.1% |
Source: SQM Research
Distressed Listings
According to SQM Research’s January 2025 report, the number of residential properties listed under distressed conditions in Australia increased to 4,782, reflecting a 1.6% rise from the previous month.
Despite this, distressed listings remain 8.9% lower year-on-year.
NSW recorded a 1.9% monthly increase in distressed listings, with figures 8.7% lower than January 2024.
VIC saw a 1.0% rise, but listings have surged 14.5% annually.
QLD recorded a 1.8% monthly increase, though figures remain 19.8% lower year-on-year.
WA was the only state to experience a monthly decline, with distressed listings falling 3.9%, bringing the total to 687, a 22.3% annual drop.
SA reported a 3.0% increase, while the ACT had the most significant monthly decline, with distressed listings falling 8.3%, though they remain 22.2% higher than a year ago.
Over the past 12 months, VIC, SA, ACT, and TAS have recorded annual increases, with TAS seeing the largest yearly rise at 26.1%.
In contrast, QLD, WA, and NSW have all recorded double-digit declines, reflecting a shift in market conditions.
Distressed Property Listings
| State | Jan 2025 Total Listings | Monthly change | Yearly change |
|---|---|---|---|
| NSW | 1,201 | 1.9% | -8.7% |
| VIC | 1,037 | 1.0% | 14.5% |
| QLD | 1,360 | 1.8% | -19.8% |
| WA | 687 | -3.9% | -22.3% |
| SA | 243 | 3.0% | 5.7% |
| ACT | 22 | -8.3% | 22.2% |
| NT | 116 | 46.8% | 3.6% |
| TAS | 116 | 2.7% | 26.1% |
| National | 4,782 | 1.6% | -8.9% |
Source: SQM Research
Asking Prices
Sydney Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,970,063 | -18.344 | -0.2% | 1.9% |
| All Units | 840,006 | -7.806 | 0.8% | 5.5% |
| Combined | 1,511,525 | -14.068 | 0.0% | 2.4% |
Source: SQM Research
Melbourne Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,252,249 | -3.2.57 | -0.7% | 1.6% |
| All Units | 613,151 | -0.351 | -0.2% | 2.8% |
| Combined | 1,051,065 | -2.343 | -0.6% | 1.6% |
Source: SQM Research
Perth Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,107,115 | 7.785 | 0.7% | 19.2% |
| All Units | 605,458 | 2.506 | 1.4% | 25.7% |
| Combined | 975,950 | 6.405 | 0.8% | 20.1% |
Source: SQM Research
Brisbane Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,197,610 | -7.103 | -0.2% | 15.7% |
| All Units | 678,249 | -1.049 | 0.4% | 17.8% |
| Combined | 1,067,552 | -5.587 | -0.1% | 15.9% |
Source: SQM Research.
Adelaide Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 990,889 | 7.924 | 1.5% | 14.5% |
| All Units | 524,754 | -3.654 | 3.2% | 19.7% |
| Combined | 907,141 | 5.844 | 1.7% | 15.0% |
Source: SQM Research
Canberra Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,188,977 | -10.228 | -1.2% | -1.0% |
| All Units | 597,595 | -0.108 | 1.5% | -1.1% |
| Combined | 970,690 | -6.493 | -0.6% | -1.5% |
Source: SQM Research
Darwin Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 716,130 | 6.870 | 2.0% | 8.1% |
| All Units | 409,949 | -1.616 | 0.2% | 8.9% |
| Combined | 595,961 | 3.539 | 1.5% | 8.3% |
Source: SQM Research
Hobart Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 812,809 | 1.645 | 1.3% | 2.2% |
| All Units | 506,758 | -1.958 | 1.1% | 0.1% |
| Combined | 766,387 | 1.098 | 1.3% | 1.9% |
Source: SQM Research
National Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 963,473 | -2.040 | 0.8% | 6.5% |
| All Units | 568,962 | -0.502 | -0.4% | 6.5% |
| Combined | 878,467 | -1.709 | 0.7% | 6.4% |
Source: SQM Research
Capital City Average Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,418,170 | -17.109 | -0.8% | 5.0% |
| All Units | 710,683 | -8.428 | 0.0% | 6.5% |
| Combined | 1,208,390 | -14.535 | -0.7% | 5.0% |
Source: SQM Research
Final note...
2025 appears to have started strongly on the residential property listings front across the country with a 10% rise in total property listings, driven by a sharp rise in new listings.
At this stage, it is hard to know whether this has been driven by a rise in vendor confidence or a fear by vendors seeking to exit the market now.
After all, let’s recall, that 2024 did end on a rather weak note and the expectations of an imminent cut in interest rates only occurred from last week’s inflation numbers.
Going forward, the RBA’s meeting and interest rate decision on the 18th of February will naturally be the focus for most participants.
If an interest rate cut does occur, we believe this will lift confidence in buyer demand with housing prices expected to rise between 6% to 10% for the year
- Also read:Sydney housing market update [video] | February 2025
- Also read:Melbourne housing market update [video] | February 2025
- Also read:Australian housing market update [CoreLogic’s video] | February 2025
- Also read:This week’s Australian Property Market Update – Latest Data, State by State February 18th 2025
- Also read:Everything you need to know about the state of Australia’s property markets in 20 charts – February 2025
