Low stock levels reshape spring market in major cities

Spring is here, but the property market isn’t playing by the usual rules.

New data from SQM Research shows total listings across Australia are down 5.2% compared to this time last year, and that’s reshaping the landscape for buyers and investors alike.

In Sydney, listings fell 7.1% year-on-year, according to SQM, which is a significant drop for a city that typically sees a surge in spring activity.

Fewer homes on the market means more competition and less choice. For homebuyers, especially up-sizers and first-timers, this can be frustrating – but it also reinforces the value of acting quickly when the right property appears.

For investors, tight supply is supporting prices and rental demand, particularly in well-connected middle-ring suburbs.

Melbourne saw a 4.3% decline in listings. While not as sharp as Sydney, it’s enough to keep pressure on buyers.

The city’s market has been slower to rebound, but lower stock levels could help stabilise prices. Homebuyers may find opportunities in quieter pockets, while investors should keep an eye on areas with infrastructure investment and strong rental yields.

Then there’s Brisbane, where listings dropped 6.5% year-on-year. This aligns with the city’s strong performance over the past 12 months.

With fewer properties available and high demand continuing, Brisbane remains a standout for both capital growth and rental returns. For homebuyers, especially those relocating or entering the market, the key is preparation – finance, research, and timing matter more than ever.

Across all three cities, the spring selling season appears to be underway with a whisper and not a roar. Sellers are holding back, and buyers are competing harder.

For investors, this environment rewards strategic thinking and long-term vision. For homebuyers, it’s about being ready to move when the right opportunity comes up.

At Metropole, we’re helping clients navigate this low-stock market with clarity and confidence. Listings may be down, but the opportunities are still out there.