National stock climbed 22.8% above July 2025 levels, with asking prices softening as supply outpaces buyer demand
Australia's residential property market recorded a significant rise in total listings during July, with national stock increasing 12.4% over the month to 278,984 dwellings, according to data released by SQM Research. The result marks the strongest annual increase in available housing stock in more than a year.
The increase was broad-based across nearly all capital cities. Melbourne recorded the largest monthly rise among the major capitals, with listings climbing 15.5% to 50,867 properties — now 42.8% higher than in July 2025. Brisbane rose 18.0% to 20,273 listings, while Adelaide increased 16.0% and Canberra 10.3%. Sydney posted a 6.6% monthly gain and now sits 28.0% above year-ago levels.
Perth added listings at a more moderate pace, rising 5.5% over the month to 15,218 properties, with stock now 10.0% higher year-on-year. Darwin recorded a 15.6% monthly increase, while Hobart rose 3.8%, though listings there remain 10.3% below July 2025 levels.
| City | Jul 2026 Total |
Jun 2026 Total |
Jul 2025 Total |
Monthly change % |
Yearly change % |
|---|---|---|---|---|---|
| Sydney | 39,400 | 36,973 | 30,776 | 6.6% | 28.0% |
| Melbourne | 50,867 | 44,044 | 35,618 | 15.5% | 42.8% |
| Brisbane | 20,273 | 17,185 | 15,659 | 18.0% | 29.5% |
| Perth | 15,218 | 14,419 | 13,834 | 5.5% | 10.0% |
| Adelaide | 10,399 | 8,963 | 7,993 | 16.0% | 30.1% |
| Canberra | 5,066 | 4,593 | 4,097 | 10.3% | 23.7% |
| Darwin | 1,082 | 936 | 997 | 15.6% | 8.5% |
| Hobart | 2,515 | 2,422 | 2,804 | 3.8% | -10.3% |
| National | 278,984 | 248,249 | 227,135 | 12.4% | 22.8% |
| Source: SQM Research | |||||
According to the July Property Listings report, new listings — those on the market for fewer than 30 days — increased 5.1% nationally to 72,806 dwellings. Melbourne led the major capitals with a 15.5% rise, followed by Adelaide at 5.1%, Brisbane at 4.8%, and Sydney at 0.6%. Perth was the only major capital to record a decline in new listings, falling 2.6%, while Canberra was broadly unchanged at -0.2%. Nationally, new listings remain 15.9% higher than a year ago.
Older stock — properties listed for more than 180 days — rose 8.1% nationally to 78,098 dwellings. Sydney, Melbourne, and Brisbane each recorded notable increases of 6.6%, 11.4%, and 6.0% respectively. Adelaide rose 7.4% and Hobart 5.2%, while Perth was largely stable at 0.6%. Canberra and Darwin were the only capitals to record declines, falling 3% and 18% respectively. Nationally, old listings are 6.6% above July 2025 levels, indicating properties are taking longer to sell as overall supply expands.
Distressed listings increased 1.6% nationally to 4,330 properties in July, marking the third straight monthly rise and the first annual increase — up 0.9% — in some time. Queensland rose 4%, Western Australia 2.3%, and South Australia 11.8%, with the latter now 31.4% above year-ago levels. The ACT recorded the sharpest annual increase at 70%, despite only a modest monthly gain of 4.1%. New South Wales fell 2.1%, Victoria 0.1%, the Northern Territory 1.1%, and Tasmania 11.6% over the month. SQM Research noted that while distressed listings remain low by historical standards, the upward trend will be monitored in coming months.
"July's figures mark a significant shift in market conditions," said Louis Christopher (pictured right), managing director at SQM Research. "National listing levels are now almost 23% higher than they were a year ago, giving buyers considerably more choice than they have had for some time.
"What's particularly noteworthy is that we're seeing increases in both new listings and older listings. More properties are coming onto the market, but they're also taking longer to sell. This is the typical read you see in housing market downturns – listings start piling up upon each other."
Meanwhile, SQM Research's Weekly Asking Prices Index for the week ending 4 August showed a broad easing in capital city asking prices. House prices declined 1.5% over the month, while unit prices fell 0.2%. Combined dwelling asking prices eased 1.2% but remain 6.2% higher year-on-year.
Sydney, Melbourne, Brisbane, and Perth each recorded monthly declines of between 0.9% and 1.1% in combined asking prices. Adelaide fell 2.1% and Canberra 2.4%, though both cities remain above year-ago levels. Darwin was the only capital to record a monthly increase, rising 0.4%, and now sits 7.6% higher than a year ago. Hobart fell 1.3% over the month but remains 9.4% above July 2025 levels.
"Asking prices have softened as supply has increased and buyers have departed the market," Christopher said. "The flip side is this should provide buyers with greater negotiating power heading into spring.
"The rise in total listings should also be contrasted against the fall in auction listings, which is actually down by about 20% compared to the same period last year. Vendors in this market are increasingly preferring to sell via private treaty."
Christopher also noted that further supply increases are anticipated as the market moves into spring, which he said was likely to place additional downward pressure on housing prices through the remainder of 2026.
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