Listings jump 8.8 per cent to 301,201 in October as stock piles up

The number of homes for sale across Australia rose 8.8 per cent in October to 301,201, according to SQM Research, as stock built up in every capital city and the share of listings sitting unsold for six months or more kept climbing.

SQM's total property listings figures, released on 3 November, show national stock up 19.3 per cent on October 2025. New listings rose 8.0 per cent over the month to 86,974 but were 1.2 per cent lower than a year earlier, which tells agents the build-up is coming from homes failing to sell rather than a surge of new vendors.

That is the point SQM managing director Louis Christopher made in releasing the data.

"It is stock accumulating because it is not selling, which points to soft buyer demand in those markets," Mr Christopher said.

Listings that have been on the market for more than 180 days rose 6.3 per cent in the month to 84,109, and are up 16.2 per cent on a year ago. For principals, that is the figure that shows up in vendor management workloads, campaign costs and the conversations agents are having about price.

Brisbane and Adelaide lead the annual rise

Melbourne remains the largest market by stock, with 51,264 listings, up 3.9 per cent in the month and 17.3 per cent over the year. SQM recorded Melbourne and Canberra at record highs on its series. Sydney listings rose 9.3 per cent in October to 42,699.

The sharpest annual increases were in markets that were short of stock a year ago. Brisbane listings are up 44.2 per cent on October 2025 at 23,489, and Adelaide's are up 43.8 per cent at 12,943, after a 19.3 per cent jump in October alone. Perth rose 14.2 per cent in the month to 18,075. Hobart was the only capital with fewer listings than a year earlier, down 2.3 per cent.

Mr Christopher flagged one further risk. "What we are watching most closely is the rise in distressed listings," he said.

Auction rooms show the same pattern

Ray White's weekly auction report for the week ending 1 November points to the same imbalance on the ground. The network scheduled 825 auctions, up from 728 the week before, yet 42 per cent had no active bidders. Ray White chief executive performance and value Thomas McGlynn said "the broader picture is one of increased supply without a corresponding lift in buyer competition."

Ray White's figures also show 35 per cent of its campaigns sold before auction day, against an eight week average of 27 per cent, and a median of 28 days on market for auction campaigns compared with 46 days for private treaty sales.

The listings data arrived the same day the Reserve Bank lifted the cash rate to 4.85 per cent, noting that "housing prices have fallen significantly". Earlier signs of the shift in supply showed up in New South Wales appraisal activity, which RET reported in NSW appraisals fall 27 per cent as new sales listings climb.