Lion IQ

More stock on the market than this time last year

The number of properties listed for sale across Australia dipped in June, but buyers are still better placed than they were 12 months ago.

According to SQM Research, national property listings fell 4.1% month-on-month to 248,249 dwellings, reflecting the typical seasonal slowdown as fewer vendors list at the start of winter. Sydney and Melbourne recorded the largest monthly falls, down 5.6% and 6.1% respectively, yet both cities still carry considerably more stock than a year ago, up 17.4% and 19.6%.

Brisbane bucked the trend entirely, with listings rising 1.2% for the month and 8.0% annually.

SQM Research managing director Louis Christopher said the figures were consistent with seasonal expectations.

"The June figures reflect what we would normally expect to see at the beginning of winter, with new listings easing after a particularly strong May," he said.

For buyers, more stock generally means more choice and less pressure to rush a decision, a welcome shift given how tight competition has been in recent years.

Why some states have a housing problem and others don't

Australia completed 172,794 dwellings and added 412,500 people in the year to December 2025. That works out to 2.4 additional people for every new home. Close to balanced, right?

Not quite, according to Ray White Group chief economist Nerida Conisbee. Her analysis of Australian Bureau of Statistics population and building activity data shows the national average hides enormous variation between states.

Western Australia added 3.2 people per new dwelling over the period. Queensland added 2.8. Both figures sit above the average household size typically used to argue supply is keeping up, and both states recorded exceptional price growth as a result: WA up 25.2% and Queensland up 17.0% over the year, according to Cotality.

Victoria completed more homes than any other state in 2025 and kept its ratio down to 2.2 people per dwelling. House prices there rose just 2.0%.

It is a simple but powerful relationship. Where supply keeps pace with population growth, prices stay calmer. Where it does not, pressure builds fast.