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%.
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.
- Also read:What the Latest Data Reveals About Australia’s Housing Future | Property Insiders
- Also read:Perth housing market update [video] | April 2025
- Also read:Adelaide housing market update [video] | April 2025
- Also read:Rental vacancy rates tighten once more ahead of the holiday season | SQM Research
- Also read:Brisbane housing market update [video] | April 2025
