Brett Warren , National Director – Metropole Group
November’s SQM Research figures confirm what many investors and homebuyers are already feeling on the ground – stock is shrinking fast in our biggest markets.
Sydney saw listings tumble 8.6% in November, leaving total stock 8.3% lower than a year ago. Vendors are clearly pulling back ahead of the holiday period, but the bigger story is the lack of fresh supply. New listings dropped almost 20% month‑on‑month, even though asking prices for houses still nudged higher to $2.13 million.
Melbourne followed a similar path. Listings fell 4.7% in November and are now 8.2% below last year. New stock was down 10.6%, reinforcing the seasonal slowdown. Prices are holding firm, with combined asking prices up 0.5% for the month and 5.2% annually.
Brisbane, however, is where the numbers really stand out. Total listings plunged 9.2% in November and are now a staggering 22.4% lower than last year. New listings fell 15.2%, and older stock continues to clear quickly. Asking prices are surging – houses are up 3.4% for the month and nearly 16% over the year, while units jumped 21.5% annually. For homebuyers and investors, the message is clear – demand is outstripping supply, particularly in Brisbane.
Sydney and Melbourne remain tight, but Brisbane is leading the nation in price growth and stock shortages. Unless we see a meaningful lift in new listings early next year, upward pressure on prices will persist.
We believe the best opportunities lie in markets with strong fundamentals and limited supply. Right now, Brisbane is the standout, with Sydney and Melbourne offering stability but perhaps slightly less momentum.
