Latest Property Asking Prices State by State | New Listings down by 11.6% Compared to March 2025

Nationally, house asking prices increased by 0.3%, while unit asking prices increased by 0.2%, resulting in a combined increase of 0.3%.

Among capital cities, the average asking price rose by 0.7%, with houses increasing by 0.8% and units by 0.3%.

Sydney’s market saw house asking prices rising by 1.8% and unit prices increased by 0.9%, leading to a increase of combined asking prices to 1.6%.

In Melbourne, house asking prices rose by 0.7%, and unit prices by 0.2%, resulting in a combined increase of 0.6%.

Brisbane experienced a rise in house asking prices by 0.8% and a decrease of 0.1% in unit prices, with an overall increase of 0.6%.

Perth recorded a 1.2% decrease in unit prices and a 0.4% increase in house prices, leading to a combined gain of 0.1%.

Adelaide house asking prices saw a slight decline of 0.8%, and unit prices increased by 1.4%, with the combined index down by 0.6%.

Darwin house prices increased by 1.4% and unit prices increased by 0.4%, leading to a combined growth of 1.2%.

Hobart saw an increase in house prices of 1.3% and unit prices increasing by 1.0 %, resulting in a combined rate increase of 1.3%.

Canberra had a decrease in house asking prices by 0.8% and a decrease in unit prices by 0.7%, leading to a combined decrease of 0.8%.

Meanwhile, according to data released by SQM Research, total nationwide residential property listings decreased by 3.6% over the month of April 2025, falling to 242,435 listed properties.

Listings declined across all major cities.

Sydney and Canberra recorded the largest monthly decrease at 7%.

Perth recorded a 2.9% monthly drop, with listings falling to 15,621 dwellings; albeit this count is still 13.9% higher than the same time last year.

Melbourne saw a 4.5% month-on-month decrease, bringing total listings to 38,548, reflecting a 1.5% yearly decline.

Brisbane recorded a 3.3% monthly decline and a 5% yearly drop.

Adelaide listings fell by 3% over the month, with a 1.6% yearly decline.

Hobart saw a monthly 3.5% decline but yearly gains of 5.5%.

Darwin experienced a 2.8% monthly decline, with yearly listings falling by a massive 26.2% compared to April 2024.

Total Listings of Properties for Sale

City	April 2025 Total	March 2025 Total	April 2024 Total	Monthly change	Yearly Change %
Sydney	32,241	34,686	29,506	-7.0%	9.3%
Melbourne	38,548	40,357	39,137	-4.5%	-1.5%
Brisbane	15,813	16,348	16,652	-3.3%	-5.0%
Perth	15,621	16,080	13,718	-2.9%	13.9%
Adelaide	8,232	8,488	8,365	-3.0%	-1.6%
Canberra	4,359	4,689	4,003	-7.0%	8.9%
Darwin	1,094	1,126	1,483	-2.8%	-26.2%
Hobart	3,111	3,224	2,948	-3.5%	5.5%
National	242,435	251,605	239,660	-3.6%	1.2%

Source: SQM Research

New Listings

Nationally, new residential property listings (less than 30 days) were down by 11.6% in April 2025, falling to 66,232 properties nationwide.

This represents a 1% decrease compared to April 2024.

SQM attributes this large decline to the Federal election as well as the Easter/Anzac Day holiday period.

Darwin, Sydney and Canberra recorded the largest monthly declines in new listings, dropping by 36.7%, 23.6% and 25.1% respectively.

Melbourne saw a 14.7% monthly and a 4.4% yearly decline.

Perth experienced an 8.1% monthly decrease in new listings but recorded a 10.9% yearly increase.

Adelaide saw a 9% monthly decline, though listings rose 1% compared to April 2025.

Brisbane recorded a 6.1% monthly decrease with an annual decline of 7.9%.

Hobart listings fell by 16% over the month but saw a yearly increase of 6.6%.

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

City	April 2025 Total	March 2025 Total	April 2024 Total	Monthly change	Yearly Change %
Sydney	12,619	16,507	12,940	-23.6%	-2.5%
Melbourne	15,111	17,722	15,804	-14.7%	-4.4%
Brisbane	6,460	6,880	7,014	-6.1%	-7.9%
Perth	6,224	6,773	5,610	-8.1%	10.9%
Adelaide	3,794	4,171	3,756	-9.0%	1.0%
Canberra	1,426	1,904	1,531	-25.1%	-6.9%
Darwin	224	354	237	-36.7%	-5.5%
Hobart	650	774	610	-16.0%	6.6%
National	66,232	74,951	66,871	-11.6%	-1.0%

Source: SQM Research

Old Listings

The number of older residential property listings (properties listed for over 180 days) increased by 1.6% nationally in April 2025, reaching 76,067 properties.

This marks a 10.6% rise compared to April 2024.

Sydney’s older listings grew by 3% over the month, with a 27.9% annual increase.

Melbourne recorded a 3.2% monthly rise, with a 15.6% increase compared to April 2024.

Brisbane saw a 3.2% increase for April but experienced a 14.9% decrease since April 2024.

Perth recorded a 2.3% monthly increase, but listings dropped 7.9% year-on-year.

Adelaide's older listings rose by 6.4% in April, yet declined by 15.3% compared to April 2024.

Canberra saw a 5.5% monthly rise, with a significant 60.1% annual increase.

Darwin was the only city to record a monthly decrease, with listings falling 1.8% in April and 14.1% since April 2024.

Hobart’s older listings increased by 5.4% in April, with a 30.4% annual rise.

City	Apr-25	Mar-25	Apr-24	Monthly change	Yearly Change %
Sydney	6,638	6,442	5,191	3.0%	27.9%
Melbourne	9,053	8,771	7,833	3.2%	15.6%
Brisbane	1,824	1,768	2,144	3.2%	-14.9%
Perth	1,733	1,694	1,881	2.3%	-7.9%
Adelaide	971	913	1,147	6.4%	-15.3%
Canberra	890	844	556	5.5%	60.1%
Darwin	387	394	657	-1.8%	-41.1%
Hobart	1,247	1,183	956	5.4%	30.4%
National	76,067	74,877	68,793	1.6%	10.6%

Source: SQM Research

Distressed Listings

According to SQM Research’s April 2025 report, the number of residential properties listed under distressed conditions in Australia decreased to 4,796, reflecting a 3.5% fall from the previous month.

Distressed listings remain lower by 8.8% year-on-year, reflecting a benign distressed properties environment at the national level.

NSW recorded a 9.7% monthly decrease in distressed listings, and is 12.7% lower than April 2024.

VIC saw a 1.7% monthly decline and a 9.3% increase annually.

QLD recorded a 0.3% monthly increase, though figures are 19.6% lower year-on-year.

WA and SA reported 1.9% and 0.8% decreases. While the ACT had the most significant monthly decrease, with distressed listings 32.4% lower, though 4.2% higher than a year ago.

NT and TAS experienced monthly declines of 7.1% and 1.6%. respectively with distressed listings at 104 and 120 listed dwellings.

Distressed Property Listings

State	Mar 2025 Total Listings	Monthly change	Yearly change
NSW	1,131	-9.7%	-12.7%
VIC	1,088	-1.7%	9.3%
QLD	1,387	0.3%	-19.6%
WA	687	-1.9%	-12.8%
SA	254	-0.8%	19.8%
ACT	25	32.4%	4.2%
NT	104	-7.1%	1.0%
TAS	120	-1.6%	6.2%
National	4,796	-3.5%	-8.8%

Source: SQM Research

Asking Prices

Sydney Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	2,040,796	1.542	1.8%	6.5%
All Units	853,666	4.234	0.9%	6.2%
Combined	1,558,071	2.398	1.6%	6.2%

Source: SQM Research

Melbourne Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,277,500	-1.385	0.7%	1.8%
All Units	627,079	-0.279	0.2%	3.6%
Combined	1,072,228	-1.148	0.6%	1.9%

Source: SQM Research

Perth Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,127,117	3.826	0.4%	14.8%
All Units	647,957	-0.683	-1.2%	27.6%
Combined	1,001,634	2.609	0.1%	16.7%

Source: SQM Research

Brisbane Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,228,688	4.297	0.8%	12.3%
All Units	715,146	-2.346	-0.1%	17.7%
Combined	1,099,722	2.543	0.6%	13.0%

Source: SQM Research.

Adelaide Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,009,728	4.511	-0.8%	11.9%
All Units	543,857	-3.357	1.4%	18.6%
Combined	925,960	3.077	-0.6%	12.6%

Source: SQM Research

Canberra Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,150,519	-2.894	-0.8%	-2.8%
All Units	597,632	0.118	-0.7%	0.6%
Combined	944,906	-2.151	-0.8%	-2.5%

Source: SQM Research

Darwin Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	764,609	3.091	1.4%	15.3%
All Units	405,233	-0.483	0.4%	10.2%
Combined	623,456	1.648	1.2%	13.9%

Source: SQM Research

Hobart Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	845,974	-4.429	1.3%	7.2%
All Units	504,673	1.227	1.0%	-4.4%
Combined	794,043	-3.608	1.3%	5.9%

Source: SQM Research

National Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	981,639	5.433	0.3%	6.9%
All Units	582,652	-0.874	0.2%	8.0%
Combined	895,434	4.016	0.3%	6.9%

Source: SQM Research

Capital City Average Weekly Asking Prices Index

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,463,874	-0.913	0.8%	6.4%
All Units	734,027	0.880	0.3%	8.7%
Combined	1,246,760	-0.542	0.7%	6.6%

Source: SQM Research

Final note...

New listings in April were heavily impacted by the Federal Election as well as the Easter/Anzac Day holidays, so it’s a little more difficult to read much into April’s results.

That said, older listings continued to trend up, especially in our largest cities of Sydney and Melbourne.

This is one indicator that suggests a softer Sydney and Melbourne market where vendors are still struggling to sell if they don’t meet the market.

Going forward, with the election behind us and a majority government in place, I expect a large uplift in new listings for May as well as a pick-up in auction clearance rates.

As for prices, we are expecting participant confidence to lift now that we have passed the election period and are coming up to another interest rate cut.

• Also read:Sydney housing market update [video] | May 2025
• Also read:Australian housing market update | May 2025
• Also read:Rental vacancy rates rise to 1.3% in April | SQM Research
• Also read:Building Slumps, Buyers Surge – What’s Really Going On In Property? | Property Insiders
• Also read:This week’s Australian Property Market Update – Latest Data, State by State May 13th 2025