Listings drop fuels fresh fears of price rises

Spring’s end has triggered a steep drop in property listings, with experts warning the supply shortage could drive prices even higher.

New SQM Research has revealed property listings have fallen in November as the spring selling season comes to an end.

Total nationwide listings fell 5.4 per cent month on month in November to 238,824 with stock levels now 12.4 per cent below last year.

In Sydney, listings fell 8.6 per cent over November. A total of 33,883 homes were listed for the month – 8.3 per cent less than at the same time last year.

SQM attributed the annual drop to some vendors withdrawing unsold properties leading into the holiday period, but there was a sharp drop in new listings.

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Source: SQM Research

New listings dropped 11.3 per cent nationally, marking the seasonal end of the spring campaign period that was reflected in Sydney as new listings dropped 19.2 per cent.

Listings that were 180+ days, considered ‘old’, declined 7.9 per cent to 66,633 listings. In Sydney, older listings declined 4.1 per cent.

The research revealed this indicates existing inventory continues to turnover even as new supply softens.

Source: SQM Research

Distressed listings fell 2.2 per cent month on month and are 32.3 per cent lower compared to November 2024 in NSW this was a yearly change of -25.4 per cent.

With listings down price increases have risen, with figures that may spark concern in certain locations prior to the Christmas period.

National asking prices rose in November with houses up 1.0 per cent and units up 0.6 per cent over the month.

Sydney house asking prices increased 1.4 per cent to $2.13 million and remain 9.1 per cent higher year-on-year while units rose 0.9 per cent monthly and 6.3 per cent annually.

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Source: SQM Research

SQM Research Managing Director Louis Christopher said November’s drop in listings was consitent with a seasonal slowdown post-spring.

“What’s more concerning is the large year-on-year deficit in stock, with listings down 12 per cent compared to 2024,” he said.

“Even with fewer new listings, the substantial fall in older listings tells us that buyers remain active, particularly in markets like Brisbane and Perth where demand continues to outstrip supply.”

Mr Christopher said asking prices are still rising and the strongest growth is concentrated in Brisbane, Perth and Adelaide.

“Unless we see a sustained uplift in listings early next year, these upward price pressures are likely to persist.”

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