Key takeaways
Total listings fell 4.8% month-on-month and 6.6% year-on-year, indicating tighter market conditions.
New listings rose 3.7% nationally, suggesting fresh vendor activity despite overall stock contraction.
Old listings dropped 6.9%, reflecting improved clearance of stale stock.
National asking prices rose across all property types, with houses leading the charge, according to SQM Research’s Weekly Asking Prices Index for the week ending 30 September.
The national average asking price for houses increased 0.9% over the rolling month and 9.5% year-on-year, while units rose 1.7% monthly and 7.8% annually.
Combined dwelling prices lifted 1.0% for the month and 9.2% over the year, reflecting resilient vendor confidence despite tightening stock levels.
Brisbane and Adelaide posted standout annual growth in combined dwelling prices—up 11.4% and 13.1% respectively—while Perth units surged 20.1% year-on-year.
Sydney’s combined asking price rose 1.7% monthly and 8.2% annually, maintaining its premium position nationally.
Despite seasonal fluctuations, the September data suggests a cautious spring start, with new vendor activity offset by reduced total listings and fewer distressed properties.
Buyers may face tighter conditions in some markets, while sellers in Hobart and Canberra may benefit from renewed momentum.
Australia’s residential property market saw a modest contraction in total listings in September 2025, with national stock levels falling 4.8% month-on-month and 6.6% year-on-year.
The decline was broad-based, led by Brisbane (-8.5%) and Perth (-8.6%), while Hobart and Canberra recorded the smallest monthly drops.
Total Listings of Properties for Sale
| City | Sept 2025 Total | Aug 2025 Total | Sept 2024 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 32,759 | 33,798 | 34,035 | -3.1% | -3.7% |
| Melbourne | 37,867 | 39,721 | 40,251 | -4.7% | -5.9% |
| Brisbane | 14,745 | 16,106 | 17,033 | -8.5% | -13.4% |
| Perth | 13,049 | 14,284 | 12,454 | -8.6% | 4.8% |
| Adelaide | 7,777 | 8,363 | 7,711 | -7.0% | 0.9% |
| Canberra | 4,302 | 4,362 | 4,305 | -1.4% | -0.1% |
| Darwin | 933 | 1,001 | 1,450 | -6.8% | -35.7% |
| Hobart | 2,554 | 2,721 | 2,774 | -6.1% | -7.9% |
| National | 227,671 | 239,044 | 243,739 | -4.8% | -6.6% |
Source: SQM Research
New Listings
New listings (properties advertised for less than 30 days) rose 3.7% nationally, suggesting fresh vendor activity despite overall stock tightening.
Hobart (+22.2%) and Canberra (+9.9%) led the monthly uplift, while Darwin (-20.9%) and Perth (-6.9%) posted the steepest declines.
Compared to September 2024, new listings fell 4.1% nationally, with Brisbane (-13.8%) and Darwin (-17.3%) showing the sharpest annual contractions.
New Listings of properties for sale (less than 30 days)
| City | Sept 2025 Total | Aug 2025 Total | Sept 2024 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 16,422 | 16,214 | 16,797 | 1.3% | -2.2% |
| Melbourne | 17,886 | 17,937 | 17,033 | -0.3% | 5.0% |
| Brisbane | 6,969 | 6,867 | 8,088 | 1.5% | -13.8% |
| Perth | 5,541 | 5,950 | 5,830 | -6.9% | -5.0% |
| Adelaide | 3,841 | 3,865 | 4,054 | -0.6% | -5.3% |
| Canberra | 2,106 | 1,916 | 1,907 | 9.9% | 10.4% |
| Darwin | 234 | 296 | 283 | -20.9% | -17.3% |
| Hobart | 590 | 483 | 524 | 22.2% | 12.6% |
| National | 74,464 | 71,815 | 77,622 | 3.7% | -4.1% |
Source: SQM Research
Old Listings
Old listings (properties on market for more than 180 days) declined 6.9% nationally over the month, indicating continued absorption of stale stock.
Canberra (-11.8%) and Melbourne (-.2%) saw notable monthly reductions, while Sydney (+21.9%) and Canberra (+28.0%) recorded the largest annual increases, reflecting longer selling times in select markets.
| City | Sept-25 | Aug-25 | Sept-24 | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 5,993 | 6,132 | 4,915 | -2.3% | 21.9% |
| Melbourne | 8,114 | 8,744 | 8,051 | -7.2% | 0.8% |
| Brisbane | 1,726 | 1,791 | 1,641 | -3.6% | 5.2% |
| Perth | 1,557 | 1,602 | 1,310 | -2.8% | 18.9% |
| Adelaide | 1,194 | 1,176 | 998 | 1.5% | 19.6% |
| Canberra | 841 | 953 | 657 | -11.8% | 28.0% |
| Darwin | 307 | 329 | 607 | -6.7% | -49.4% |
| Hobart | 1,114 | 1,221 | 1,117 | -6.3% | 2.4% |
| National | 71,619 | 76,931 | 70,476 | -6.9% | 1.6% |
Source: SQM Research
Distressed Listings
Distressed listings declined 8.0% nationally, with QLD (-31.8%) and WA (-42.6%) showing the strongest annual improvement.
NSW and SA also posted double-digit monthly declines, while NT and TAS were the only regions to record increases.
Distressed Property Listings
Source: SQM Research
Asking Prices
Sydney Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 2,099,328 | 5.922 | 1.9% | 9.0% |
| All Units | 878,872 | -0.372 | 1.4% | 6.3% |
| Combined | 1,601,853 | 3.357 | 1.7% | 8.2% |
Source: SQM Research
Melbourne Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,301,902 | -1.302 | 0.5% | 4.7% |
| All Units | 647,515 | 2.785 | 1.5% | 6.1% |
| Combined | 1,094,953 | -0.009 | 0.7% | 4.8% |
Source: SQM Research
Perth Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,159,475 | -3.319 | -1.1% | 8.0% |
| All Units | 679,671 | 3.728 | 2.6% | 20.1% |
| Combined | 1,033,685 | -1.338 | -0.5% | 9.8% |
Source: SQM Research
Brisbane Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,303,296 | 11.381 | 1.8% | 10.2% |
| All Units | 781,911 | 4.439 | 4.1% | 18.4% |
| Combined | 1,172,048 | 9.633 | 2.2% | 11.4% |
Source: SQM Research.
Adelaide Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,068,226 | 4.574 | 0.9% | 11.9% |
| All Units | 581,668 | 3.762 | 2.4% | 24.4% |
| Combined | 980,652 | 4.428 | 1.1% | 13.4% |
Source: SQM Research
Canberra Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,239,025 | -7.413 | 0.2% | 6.1% |
| All Units | 578,969 | -2.607 | -1.7% | -2.8% |
| Combined | 991,641 | -5.612 | -0.3% | 3.5% |
Source: SQM Research
Darwin Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 782,252 | -11.252 | -0.7% | 16.7% |
| All Units | 437,512 | -2.637 | 0.0% | 13.8% |
| Combined | 646,723 | -7.865 | -0.5% | 15.9% |
Source: SQM Research
Hobart Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 849,182 | -0.092 | -0.2% | 7.8% |
| All Units | 487,464 | 2.736 | -1.6% | -1.1% |
| Combined | 794,014 | 0.339 | -0.4% | 6.8% |
Source: SQM Research
National Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,029,546 | -0.813 | 0.9% | 9.5% |
| All Units | 609,352 | 1.792 | 1.7% | 7.8% |
| Combined | 933,503 | -0.249 | 1.0% | 9.2% |
Source: SQM Research
Capital City Average Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,512,070 | 3.212 | 0.9% | 7.9% |
| All Units | 761,932 | 0.181 | 1.3% | 8.9% |
| Combined | 1,288,241 | 2.308 | 1.0% | 7.9% |
Source: SQM Research
Final note...
The September data confirms what we’ve been observing over recent weeks—a tightening in national listings alongside a steady rise in asking prices.
Vendor confidence remains firm, particularly in Brisbane, Adelaide, and Perth, where annual price growth is outpacing the national average.
The uplift in new listings suggests sellers are responding to spring momentum, but total stock remains below last year’s levels, which could place upward pressure on prices if buyer demand holds.
Distressed listings continue to trend down, which is a positive indicator for market stability.
However, the increase in older stock in Sydney and Canberra may point to pockets of buyer hesitation or overpricing.
Overall, the market is showing resilience, but affordability constraints and interest rate settings will remain key factors to watch as we head deeper into the selling season.
- Also read:Property Prices Accelerated in October | Latest stats from Dr. Andrew Wilson
- Also read:The Property Market’s Perfect Storm: Soaring Rents, Falling Construction, and Fierce Auctions | Property Insiders
- Also read:Latest Property Price Forecasts Revealed. Australian Property Market Outlook 2026: Where To For Prices With Rate Cuts Delayed.
- Also read:National Weekly Auction Report – Oct 25th 2025 | Auction Markets Hold the Line Despite Usual Mid-Spring Listings Surge
- Also read:Adelaide housing market update [video] | October 2025
