Shrinking housing stock and strong demand tighten conditions across Australia
Australia’s housing market is contending with one of its tightest supply environments in years, with national residential listings now sitting about 10% below levels recorded a year earlier, according to the Real Estate Buyers Agent Association of Australia (REBAA).
Figures from SQM Research indicate that the decline is broad‑based but most pronounced in several smaller capital cities. Darwin has recorded a 36.7% fall in listings over the year, while Brisbane and Perth have seen declines of 19.6% and 18.0% respectively, pointing to a deep shortage of available stock in those markets.
Older listings have also reduced by around 10% year‑on‑year, suggesting that properties remaining on the market for longer are being absorbed more quickly. Distressed listings have fallen by 29.4%, indicating fewer forced sales and a higher rate of buyer take‑up of available stock.
REBAA president Melinda Jennison (pictured right) said the latest figures point to a structural, rather than seasonal, tightening in supply that is being felt by buyers across the country. “We’re not just dealing with seasonal fluctuations because there is a structural shortage of listings and buyers are feeling the pressure nationwide,” she said.
Jennison noted that the sharper falls in Brisbane, Perth and Darwin mirror what buyers’ agents are seeing on the ground, with reduced choice for purchasers competing for a smaller pool of properties. “When listings fall nearly 20% or more in a year, as they have in Brisbane and Darwin, buyers simply don’t have enough choice,” she pointed out.
According to REBAA, the current imbalance between supply and demand is prompting more buyers to turn to professional intermediaries to secure properties that never appear on public listing portals. “In a tight‑supply environment, access is everything,” Jennison said. “Our members are securing quiet, pre‑market, and off‑market listings because selling agents know they bring qualified, ready buyers to the table.”
SQM Research data also show national asking prices have increased 12.8% over the past year, reinforcing affordability pressures even as demand remains firm.
“Good properties are always in strong demand, regardless of broader market conditions and supply constraints,” Jennison said. “When national stock levels are this low, that demand becomes even more concentrated.
“A skilled and experienced buyers’ agent helps clients move quickly, negotiate confidently and avoid costly mistakes. In markets where listings are shrinking year‑on‑year, that expertise can be the difference between securing a home and missing out repeatedly.”
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