Low listings, migration and affordability pressures shape lending conditions
Australia’s housing markets have started 2026 with limited listings and continued price growth, although conditions vary by state, the latest PIPA National Market Update has indicated.
The update draws on commentary from market specialists and members of the Property Investment Professionals of Australia (PIPA).
According to them, the national picture is being shaped by scarce stock, strong migration and changing affordability, even as broader economic settings shift.
“In New South Wales, buyer demand remains firm despite affordability pressures, with Sydney values now just 0.1% below the record peak observed in November 2025,” said Cate Bakos (pictured right), chair of the Property Investment Professionals of Australia.
“Victoria is experiencing a more varied landscape, where strong competition for family homes contrasts with softer conditions in the prestige and inner city apartment sectors.
“Queensland continues to surge, fuelled by intense buyer competition and government incentives, with Brisbane homes often selling within one week of the first open home.”
PIPA also singled out Western Australia as the strongest performer, attributing gains to acute undersupply and rapid population growth, with annual price growth estimated at about 22%.
“South Australia is also building momentum, supported by election driven housing incentives and consistent buyer confidence,” Bakos added.
“Tasmania shows signs of a measured recovery after earlier corrections, underpinned by tightening listings and strong regional demand.
“Meanwhile, the ACT continues its long established pattern of steady, stable growth, with detached homes outperforming units and supply remaining constrained.”
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