Key takeaways
Total property listings fell 3% nationally in July and 1.8% annually.
New residential listings remained flat month-on-month and declined 4.7% year-on-year.
Old listings up 10.1% nationally year-on-year, despite a monthly drop of 4.9%.
Distressed listings slipped 5.5% monthly and fell 15.4% annually.
Australian residential asking prices posted modest growth in early August, with the national combined dwelling price rising 0.3% week-on-week to $918,674, according to SQM Research’s Weekly Asking Prices Index.
All houses nationally rose 0.1% over the week to $1,008,727, reflecting sustained momentum across broader housing categories.
The rolling quarter saw house prices lift 2.7%, and annual growth held firm at 8.2%.
Unit prices outpaced houses in short-term performance, with all units rising 1.4% week-on- week to $592,803.
Two-bedroom units posted a gain of 1.1%, contributing to a rolling quarterly increase of 2.3% and a solid annual rise of 7.5%.
Three-bedroom houses were the only category to soften slightly, slipping 0.1% over the week to $861,795.
However, long-term growth remains stable, with a 6.6% increase over 12 months and a 6.5% annualised gain over the past decade.
The rolling three-year and seven-year trends continue to underline the resilience of the national housing market, with combined dwelling prices growing at an average annual pace of 7.5% and 7.8% respectively.
SQM Research notes that rising unit prices, paired with sustained house growth, suggest balanced demand across housing types as buyers adapt to changing affordability and lifestyle preferences.
Meanwhile, national residential property listings declined by 3.0% in July 2025, falling to 227,135 properties, according to the latest data from SQM Research.
The drop reflects a measured retreat in vendor activity across most capital cities, as markets continue to respond to seasonal and economic shifts.
Sydney and Adelaide were among the few capitals to register annual increases—up 4.5% and 6.5%, respectively—despite monthly declines of 2.3% and 1.6%.
Perth posted the most significant yearly rise, up 17.0%, even as monthly volumes contracted by 9.3%, suggesting underlying demand continues to draw listings into the market.
Conversely, Melbourne and Brisbane experienced both monthly and yearly declines, with Melbourne falling 3.3% in July and 4.2% year-on-year.
Brisbane dipped 1.6% month-on-month and 7.8% annually, pointing to softening supply in Queensland’s capital.
Darwin saw the largest annual fall, down 36.7%, with total listings now below 1,000.
Hobart and Canberra posted moderate yearly increases of 1.4% and 6.9%, respectively, though both recorded monthly declines.
The July data signals a tentative phase for national housing supply, with total listings lower than both last month and this time last year.
While some cities show renewed activity, overall volumes suggest sellers may be awaiting improved conditions as the spring market approaches.
Total Listings of Properties for Sale
| City | July 2025 Total | June 2025 Total | July 2024 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 30,776 | 31,489 | 29,464 | -2.3% | 4.5% |
| Melbourne | 35,618 | 36,836 | 37,188 | -3.3% | -4.2% |
| Brisbane | 15,659 | 15,913 | 16,984 | -1.6% | -7.8% |
| Perth | 13,384 | 15,250 | 11,821 | -9.3% | 17.0% |
| Adelaide | 7,993 | 8,121 | 7,504 | -1.6% | 6.5% |
| Canberra | 4,097 | 4,274 | 3,832 | -4.1% | 6.9% |
| Darwin | 997 | 1,054 | 1,576 | -5.4% | -36.7% |
| Hobart | 2,804 | 2,931 | 2,764 | -4.3% | 1.4% |
| National | 227,135 | 234,067 | 231,336 | -3.0% | -1.8% |
Source: SQM Research
New Listings
New residential property listings across Australia held steady in July 2025, totalling 62,798 nationally, virtually unchanged from the previous month but down 4.7% compared to July 2024.
The figures reflect subdued vendor activity despite signs of seasonal transitions.
Sydney and Melbourne recorded modest month-on-month increases of 0.5% and 0.4%, respectively, with both cities trending below last year’s volumes.
Brisbane and Perth saw sharper declines, falling 1.8% and 8.4% month-on-month, with Brisbane also experiencing the largest annual drop at 14.6%.
Darwin posted the strongest growth, with new listings rising 27.7% monthly and 16.1% annually, suggesting improved market confidence in the Northern Territory.
Canberra also saw momentum build, up 8.8% from June.
Nationally, the data points to a measured market, with sellers possibly holding back ahead of the spring season.
Regional variations underline differing sentiment, with tightening supply in some areas and improved vendor engagement in others.
New Listings of properties for sale (less than 30 days)
| City | July 2025 Total | June 2025 Total | July 2024 Total | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 12,831 | 12,765 | 13,081 | 0.5% | -1.9% |
| Melbourne | 14,066 | 14,003 | 14,497 | 0.4% | -3.0% |
| Brisbane | 6,790 | 6,915 | 7,955 | -1.8% | -14.6% |
| Perth | 5,524 | 6,029 | 5,070 | -8.4% | 9.0% |
| Adelaide | 3,659 | 3,660 | 3,715 | 0.0% | -1.5% |
| Canberra | 1,538 | 1,414 | 1,527 | 8.8% | 0.7% |
| Darwin | 332 | 260 | 286 | 27.7% | 16.1% |
| Hobart | 559 | 559 | 518 | 0.0% | 7.9% |
| National | 62,798 | 62,769 | 65,863 | 0.0% | -4.7% |
Source: SQM Research
Old Listings
National residential property listings aged over 180 days fell by 4.9% in July 2025 to 73,261 properties, down from 77,018 in June.
The decline suggests renewed absorption of long- standing stock, driven by seasonal activity and shifting buyer preferences.
Despite the monthly drop, older listings remain 10.1% higher than this time last year, reflecting broader supply accumulation across key capital cities.
Canberra stood out with a 55.8% annual increase, while Sydney rose 28.3%, indicating lingering stock turnover challenges despite recent clearance momentum.
Most cities recorded monthly declines, including Perth (-6.5%), Hobart (-6.9%), and Melbourne (-6.3%), contributing to a national easing of aged inventory.
Brisbane and Darwin posted both monthly and annual declines, with Darwin’s figures down 50.7% year-on-year—highlighting ongoing clearance in the Northern Territory.
Adelaide was the only capital to post a monthly increase, up 1.3%, alongside a 10.2% annual rise, suggesting continued stock buildup in South Australia’s market.
SQM Research notes that while the July figures reflect improving turnover conditions, older stock levels remain elevated in several markets, underscoring the need for pricing alignment and strategic vendor engagement ahead of the spring season.
| City | Jul-25 | Jun-25 | Jul-24 | Monthly change | Yearly Change % |
|---|---|---|---|---|---|
| Sydney | 5,926 | 6,321 | 4,620 | -6.2% | 28.3% |
| Melbourne | 8,347 | 8,912 | 7,433 | -6.3% | 12.3% |
| Brisbane | 1,680 | 1,747 | 1,795 | -3.8% | -6.4% |
| Perth | 1,558 | 1,666 | 1,398 | -6.5% | 11.4% |
| Adelaide | 1,157 | 1,142 | 1,050 | 1.3% | 10.2% |
| Canberra | 821 | 909 | 527 | -9.7% | 55.8% |
| Darwin | 322 | 352 | 653 | -8.5% | -50.7% |
| Hobart | 1,137 | 1,221 | 936 | -6.9% | 21.5% |
| National | 73,621 | 77,018 | 66,526 | -4.9% | 10.1% |
Source: SQM Research
Distressed Listings
National distressed property listings declined by 5.5% in July 2025 to 4,291 properties, marking a 15.4% reduction compared to July 2024.
The downward trend reflects ongoing improvements in borrower stability and fewer mortgagee-in-possession sales, particularly across eastern states.
Queensland and Western Australia recorded the most significant yearly drops, down 23.3% and 30.3% respectively.
These figures suggest better market fundamentals and possibly improved refinancing conditions in regions previously exposed to higher debt distress.
New South Wales saw a modest monthly decline of 1.5% and a yearly contraction of 9.2%.
Victoria’s distressed listings fell 7.6% month-on-month and 5.7% annually, reinforcing the national downtrend.
However, South Australia stood out with a 13.2% increase compared to July last year, indicating isolated pressure points possibly linked to regional market volatility.
The Northern Territory was the only state to record a monthly rise, up 4.1%, despite a 14.3% yearly decrease.
The Australian Capital Territory and Tasmania posted the steepest monthly falls of 11.8% and 13.2% respectively, but their overall volumes remain small and subject to fluctuations.
These figures suggest a broadly stabilising residential sector, with distressed stock now comprising a smaller proportion of total listings in most regions.
Although distressed listings remain a minor portion of the overall market, the divergent state trends hint at a patchwork of economic pressures, particularly in regions where cost-of-living and serviceability challenges are being felt more acutely.
Distressed Property Listings
Source: SQM Research
Asking Prices
Sydney Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 2,037,624 | -1.329 | 0.1% | 6.3% |
| All Units | 869,737 | 2.262 | 2.3% | 6.1% |
| Combined | 1,561,861 | -0.182 | 0.6% | 6.0% |
Source: SQM Research
Melbourne Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,296,632 | 1.668 | -0.6% | 4.8% |
| All Units | 631,132 | 1.268 | 0.3% | 3.1% |
| Combined | 1,086,259 | 1.427 | -0.4% | 4.3% |
Source: SQM Research
Perth Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,156,501 | 10.850 | 0.5% | 11.9% |
| All Units | 654,228 | -1.482 | 1.6% | 18.2% |
| Combined | 1,024,865 | 7.569 | 0.7% | 12.8% |
Source: SQM Research
Brisbane Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,259,583 | 0.200 | 0.5% | 11.2% |
| All Units | 743,506 | 5.584 | 1.5% | 16.4% |
| Combined | 1,129,746 | 1.478 | 0.7% | 11.9% |
Source: SQM Research.
Adelaide Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,048,942 | 2.745 | -1.2% | 13.2% |
| All Units | 562,961 | -1.031 | 0.4% | 22.0% |
| Combined | 961,498 | 2.037 | -1.0% | 14.0% |
Source: SQM Research
Canberra Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,226,001 | 9.236 | 1.2% | 1.6% |
| All Units | 589,594 | -3.470 | -1.2% | 0.4% |
| Combined | 987,949 | 4.026 | 0.7% | 0.8% |
Source: SQM Research
Darwin Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 797,721 | -4.321 | 2.6% | 21.6% |
| All Units | 432,340 | 9.910 | 4.4% | 13.8% |
| Combined | 654,098 | 1.247 | 3.1% | 19.4% |
Source: SQM Research
Hobart Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 840,398 | -4.398 | -0.2% | 7.1% |
| All Units | 495,580 | -0.780 | -0.4% | -2.2% |
| Combined | 791,717 | 1.596 | 0.1% | 6.7% |
Source: SQM Research
National Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,008,727 | 11.388 | 0.1% | 8.2% |
| All Units | 592,803 | 2.231 | 1.4% | 6.9% |
| Combined | 918,674 | 9.342 | 0.3% | 7.9% |
Source: SQM Research
Capital City Average Weekly Asking Prices Index
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,482,013 | 12.438 | 0.6% | 7.4% |
| All Units | 746,794 | 0.460 | 1.5% | 7.9% |
| Combined | 1,262,803 | 8.697 | 0.7% | 7.3% |
Source: SQM Research
Final note...
The July decline in total listings reflects a seasonal slowdown, but what’s notable is the continued rise in older stock across key capitals.
This suggests that while new listings remain subdued, turnover of existing inventory is lagging.
We’re also seeing a meaningful drop in distressed listings, which points to improving financial stability among homeowners.
Overall, the market appears to be in a holding pattern ahead of the spring selling season.
- Also read:National Vacancy Rates Fall to 1.2% in July,Rental Squeeze Intensifies | SQM Research
- Also read:What Building Approvals, Retail Spending, and Auction Results Tell Us About Our Housing Markets Right Now | Property Insiders
- Also read:This week’s Australian Property Market Update – Latest Data, State by State August 12th 2025
- Also read:Latest property price forecasts for 2026 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:National Auction Report – August 9th 2025 | August Continues to Report Strong Auction Results
