New data reveals that Australia’s new housing market remains resilient despite early signs of a slowdown, with Queensland standing out as the national leader in both growth and total demand. Meanwhile, both Victoria and New South Wales are falling behind.
“These findings come from the OpenLot New House Enquiry Index, which is our real-time measure of buyer interest based on average enquiries made each quarter by our more than 130,000 users,” said Qi Chen, CEO and Founder of OpenLot.com.au, Australia’s leading consumer portal for new housing.
OpenLot’s Chen added that “National growth has stalled, dipping by 1.3% year-on-year. Still, demand remains well above historic norms and sits at the third-highest level ever recorded. However, each of the states is its own market, which means the national number obscures as much as it reveals.
“Of all the states, Queensland is the standout, with growth in enquiries per user and total buyer enquiries leading the nation. That’s driven by a shortage of land, so buyers have to work harder to find what they are looking for. We expect more land to become available in Queensland in the second half of 2025.
“Western Australia and South Australia are both lagging significantly behind the other states. Both states experienced double-digit drops in buyer interest in the first quarter compared to 2024.
“Victoria and New South Wales are holding steady, but both states show signs of a potential softening. That’s a trend we will watch over the next two quarters.
“For developers, there’s a clear case to accelerate project launches to meet demand in Queensland. In Western Australia and South Australia, buyers may need new incentives to re-engage.”
