National property listings hit multi-year lows as buyers scramble for stock
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Australia’s housing market is grappling with a significant supply shortage, with national property listings plummeting to multi-year lows, intensifying competition among buyers. According to the Real Estate Buyers Agent Association of Australia (REBAA), the scarcity of available properties is becoming a critical issue across the country.
Recent data from SQM Research reveals that national residential listings have dropped approximately 10 per cent compared to a year ago, indicating a structural tightening in supply nationwide. The most dramatic annual declines in listings were observed in Darwin (-36.7%), Brisbane (-19.6%), and Perth (-18.0%), underscoring the depth of the shortage in these key markets.
Adding to the pressure, older listings have decreased by 10 per cent year-on-year, while distressed listings have plunged by 29.4 per cent. This trend suggests strong buyer absorption and a decrease in forced sales, according to SQM Research.
Melinda Jennison, President of REBAA, highlighted the unmistakable national trend of dwindling listings, which has left buyers competing fiercely in markets where quality stock is scarce. “We’re not just dealing with seasonal fluctuations because there is a structural shortage of listings and buyers are feeling the pressure nationwide,” Ms Jennison said.
The sharp annual declines in cities like Brisbane, Perth, and Darwin reflect the challenges on the ground, according to Jennison. “When listings fall nearly 20 per cent or more in a year, as they have in Brisbane and Darwin, buyers simply don’t have enough choice,” she explained. This scarcity of options makes access to pre-market and off-market opportunities increasingly vital. “That’s when access to pre-market and off-market opportunities becomes absolutely critical,” she added.
Buyers’ agents are playing a crucial role in navigating this tight-supply environment, uncovering opportunities that often don’t reach major property portals. “In a tight-supply environment, access is everything,” Jennison noted. “Our members are securing quiet, pre-market, and off-market listings because selling agents know they bring qualified, ready buyers to the table.”
The competition remains fierce, with national asking prices rising by 12.8 per cent year-on-year, despite ongoing affordability challenges. Jennison emphasised that demand for good properties remains robust, irrespective of broader market conditions and supply constraints. “Good properties are always in strong demand, regardless of broader market conditions and supply constraints,” she stated. “When national stock levels are this low, that demand becomes even more concentrated.”
In such a competitive market, the expertise of a skilled and experienced buyers’ agent can be invaluable. “A skilled and experienced buyers’ agent helps clients move quickly, negotiate confidently and avoid costly mistakes,” Jennison said. “In markets where listings are shrinking year-on-year, that expertise can be the difference between securing a home and missing out repeatedly.”
The current mismatch between available listings and demand from property purchasers has led to an increased reliance on buyers’ agents to identify and secure properties. As Jennison pointed out, “Our members are securing quiet, pre-market, and off-market listings because selling agents know they bring qualified, ready buyers to the table.”
As the Australian housing market continues to face these supply challenges, the role of buyers’ agents is becoming more critical than ever. Their ability to navigate the complexities of the market, identify opportunities, and provide strategic guidance is proving essential in helping buyers secure properties amid fierce competition and limited stock.