Key takeaways
Total national property listings were broadly flat in April (-0.1% month-on-month) at 234,469 dwellings.
Listings are 3.3% lower year-on-year, indicating continued but easing supply constraints.
New listings declined 6.8% in April following March’s lift but remain 11.1% higher year-on-year.
Old listings increased 3.6%, suggesting some accumulation of longer-dated stock.
Distressed listings rose 4.2% month-on-month, though remain 23.7% lower than a year ago.
Asking prices softened slightly over the month but remain 11.5% higher year-on-year nationally.
SQM Research’s Weekly Asking Prices Index for the week ending 27 April 2026 showed mixed price movements across capital cities.
Nationally, asking prices eased slightly over the month, with houses down 0.3%, units up 0.3%, and combined dwellings slipping 0.2%, while remaining 11.5% higher year-on-year.
Sydney (-0.5%) and Brisbane (-1.3%) recorded monthly declines in combined prices, while Melbourne was broadly flat.
Perth continued to show resilience, with combined asking prices rising 0.7% over the month and 18.6% annually.
Adelaide posted a 1.4% monthly gain, while Canberra declined 2.3%, reflecting softer short-term conditions.
Darwin recorded a slight monthly decline in combined asking prices (-0.2%), while remaining 11.6% higher year-on-year.
Hobart recorded a solid rebound of 1.9% over the month and remains 7.8% higher year-on-year.
Australia’s housing market recorded a further lift in listings during March, with total national residential stock rising 3.5% to 234,734 dwellings, reflecting a continued post-summer recovery in supply.
Sydney declined 3.1% for the month, while Melbourne was broadly flat (+0.4%) and remains 10.0% higher year-on-year.
Brisbane rose 3.6%, though remains 9.4% below last year’s levels.
Perth stock on market continued to lift, rising a further 4.3% month-on-month to 13,133 dwellings, extending the rebound seen in March. Despite this, listings remain 15.9% lower year-on-year, highlighting that supply conditions are still relatively tight for now.
Adelaide (-0.5%) and Canberra (-3.8%) recorded declines, while Darwin (+6.2%) posted a stronger increase.
Hobart fell 3.5%, continuing its softer trend.
Total Listings of Properties for Sale
| City | Apr 2026 Total | Mar 2026 Total | Apr 2025 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 34,118 | 35,224 | 32,241 | -3.1% | 5.8% |
| Melbourne | 42,389 | 42,241 | 38,548 | 0.4% | 10.0% |
| Brisbane | 14,326 | 13,832 | 15,813 | 3.6% | -9.4% |
| Perth | 13,133 | 12,587 | 15,621 | 4.3% | -15.9% |
| Adelaide | 8,287 | 8,326 | 8,232 | -0.5% | 0.7% |
| Canberra | 4,556 | 4,735 | 4,359 | -3.8% | 4.5% |
| Darwin | 768 | 723 | 1,094 | 6.2% | -29.8% |
| Hobart | 2,722 | 2,822 | 3,111 | -3.5% | -12.5% |
| National | 234,469 | 234,734 | 242,435 | -0.1% | -3.3% |
Source: SQM Research
New Listings
New listings declined 6.8% nationally in April to 73,588 dwellings, following March’s increase, reflecting a moderation in fresh supply entering the market and driven by the April public holidays as well as some uncertainty by would-be vendors
Sydney (-22.0%) and Melbourne (-12.9%) recorded the largest pullbacks after strong prior months.
Brisbane (-3.7%), Adelaide (-2.2%) and Perth (-1.2%) also eased modestly. Canberra (-13.0%) and Darwin (-7.0%) declined, while Hobart fell 4.6%.
Despite the monthly decline, new listings remain 11.1% higher year-on-year, suggesting underlying vendor activity remains stronger than in 2025.
New Listings of properties for sale (less than 30 days)
| City | Mar 2026 Total | Feb 2026 Total | Mar 2025 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 13,191 | 16,918 | 12,619 | -22.0% | 4.5% |
| Melbourne | 17,364 | 19,940 | 15,111 | -12.9% | 14.9% |
| Brisbane | 6,854 | 7,120 | 6,460 | -3.7% | 6.1% |
| Perth | 6,336 | 6,412 | 6,224 | -1.2% | 1.8% |
| Adelaide | 4,350 | 4,450 | 3,794 | -2.2% | 14.7% |
| Canberra | 1,850 | 2,127 | 1,426 | -13.0% | 29.7% |
| Darwin | 267 | 287 | 224 | -7.0% | 19.2% |
| Hobart | 759 | 796 | 650 | -4.6% | 16.8% |
| National | 73,588 | 78,999 | 66,232 | -6.8% | 11.1% |
Source: SQM Research
Old Listings
Older stock increased 3.6% nationally to 66,819 dwellings, indicating a modest accumulation of longer-dated listings.
Sydney (+4.6%), Melbourne (+5.2%) and Brisbane (+4.9%) all recorded increases. Adelaide (+10.9%) and Canberra (+6.0%) also saw notable rises.
Perth was the exception, with old listings declining 4.0%, suggesting continued absorption of stock despite the recent lift in total listings.
Darwin (+13.2%) recorded a strong increase, though remains significantly below last year’s levels (-53.5% YoY).
Hobart declined 2.0%.
| City | Mar-2026 | Feb 2026 | Mar 2025 | Monthly % change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 6,157 | 5,889 | 6,638 | 4.6% | -7.2% |
| Melbourne | 8,191 | 7,785 | 9,053 | 5.2% | -9.5% |
| Brisbane | 1,517 | 1,446 | 1,824 | 4.9% | -16.8% |
| Perth | 1,251 | 1,303 | 1,733 | -4.0% | -27.8% |
| Adelaide | 937 | 845 | 971 | 10.9% | -3.5% |
| Canberra | 739 | 697 | 890 | 6.0% | -17.0% |
| Darwin | 180 | 159 | 387 | 13.2% | -53.5% |
| Hobart | 926 | 945 | 1,247 | -2.0% | -25.7% |
| National | 66,819 | 64,516 | 76,067 | 3.6% | -12.2% |
Source: SQM Research
Distressed Listings
Distressed listings rose 4.2% in April to 3,659 properties, though remain 23.7% lower year-on-year, indicating overall financial conditions remain relatively stable.
New South Wales (+5.0%), Queensland (+5.7%) and Western Australia (+8.0%) all recorded increases.
Victoria (+1.4%) and South Australia (+5.3%) also rose modestly.
The ACT was flat (0.0%) but remains elevated compared to last year (+76.0% YoY), continuing to warrant monitoring.
Tasmania (-10.2%) was the only state to record a notable decline.
Distressed Property Listings
Source: SQM Research
Asking Prices
Sydney Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 2,138.491 | -10.091 | -1.1% | 4.9% |
| All Units | 930.426 | 0.324 | 1.4% | 9.5% |
| Combined | 1,644.749 | -5.834 | -0.5% | 5.7% |
Source: SQM Research
Melbourne Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,344.477 | -1.371 | 0.1% | 5.1% |
| All Units | 683.121 | 0.379 | 0.3% | 8.9% |
| Combined | 1,135.033 | -0.817 | 0.1% | 5.7% |
Source: SQM Research
Perth Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,321.347 | -6.759 | 1.0% | 17.6% |
| All Units | 801.363 | -5.980 | -0.6% | 23.6% |
| Combined | 1,184.696 | -6.554 | 0.7% | 18.6% |
Source: SQM Research
Brisbane Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,426.576 | -9.857 | -1.5% | 16.5% |
| All Units | 894.370 | -3.070 | -0.1% | 24.7% |
| Combined | 1,292.012 | -8.141 | -1.3% | 17.8% |
Source: SQM Research.
Adelaide Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,150.514 | -5.514 | 1.6% | 14.5% |
| All Units | 607.327 | 4.563 | -0.6% | 11.0% |
| Combined | 1,052.629 | -3.698 | 1.4% | 14.1% |
Source: SQM Research
Canberra Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,241.122 | -15.760 | -2.6% | 7.6% |
| All Units | 599.605 | -4.355 | -0.9% | 0.4% |
| Combined | 997.791 | -11.434 | -2.3% | 5.4% |
Source: SQM Research
Darwin Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 826.595 | -0.795 | -1.0% | 8.6% |
| All Units | 489.810 | 2.690 | 2.2% | 20.7% |
| Combined | 694.110 | 0.576 | -0.2% | 11.6% |
Source: SQM Research
Hobart Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 918.005 | 6.749 | 1.6% | 8.0% |
| All Units | 535.303 | 4.097 | 4.5% | 6.3% |
| Combined | 859.431 | 6.343 | 1.9% | 7.8% |
Source: SQM Research
National Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,087.863 | 0.699 | -0.3% | 11.3% |
| All Units | 655.940 | 5.328 | 0.3% | 12.4% |
| Combined | 993.887 | 1.706 | -0.2% | 11.5% |
Source: SQM Research
Capital City Average Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,573.573 | -8.507 | -1.0% | 7.4% |
| All Units | 816.807 | -1.167 | 0.5% | 11.4% |
| Combined | 1,346.770 | -6.307 | -0.7% | 8.0% |
Source: SQM Research
Final note...
April’s figures highlight an uncertain market and one that was impacted by the seasonal public holidays.
While total listings were broadly unchanged over the month, the composition of the data is quite mixed. We are seeing some pullback in new listings alongside a rise in older stock, which suggests vendor uncertainty and cautious buyers.
Perth a key market to watch. There might be signs of a slowing in activity. Listings have now risen for two consecutive months, which is notable given how tight conditions have been.
However, supply is still well below last year’s levels.
At the same time, distressed listings remain relatively low, and asking prices are still well above where they were a year ago. This indicates the market remains supported, even as short-term conditions become more variable.
In my opinion, tomorrow’s RBA meeting is going to be crucial for market momentum over the winter months.
While it is likely the cash rate will rise to 4.35%, the language that goes with it will be just as important.
If the RBA flags more rate hikes, we can expect a sustained downturn in listings activity for the remainder of the year.
- Also read:Interest Rates Rise Again and Auction Markets Pull Back – What It Really Means for Property | Property Insiders
- Also read:This week’s Australian Property Market Update – Latest Data, State by State May 12th 2026
- Also read:Latest Property Price Forecasts Revealed. Australian Property Market Outlook 2026: Where To Now After The Rate Rise.
- Also read:Everything you need to know about the state of Australia’s property markets in 20 charts – May 2026
- Also read:National Weekly Auction Report – May 9th 2026 | Auction Clearance Rates Plunge as Interest Rates Rise Again
