REA Group home listings drop 2% in Q1 FY27

• Property website operator REA Group experienced a 16% drop in combined home listings across Sydney and Melbourne during the September quarter.
• Surging listings in Brisbane, Perth, and Adelaide partially offset the major metropolitan slowdown to limit the national listing decline to 2%.
• Stable long-term inventory averages, resilient employment levels, and strong homeowner equity continue to cushion property seller activity across regional markets.

Digital real estate platform operator REA Group (ASX:REA) recorded a 2% drop in national property listings during the first quarter of the 2027 financial year after sharp declines in major capital cities offset regional growth.

The national contraction was driven by a 16% listing collapse across Sydney and Melbourne over the three months to September.

"We continue to see a two-speed market with the smaller capitals offsetting the quieter conditions in Melbourne and Sydney in Q1," said REA Group Chief Executive Officer Cameron McIntyre.

A strong 17% combined surge in new property listings across Brisbane, Perth, and Adelaide helped balance out the severe lull in the larger eastern seaboard housing markets.

The company stated that total property listing volumes across Australian capital cities remain comparable with historic long-term market averages despite recent localised drops.

Following the operational announcement, the REA Group share price was down 1.38% at $153.

The residential property portal continues to rely on elevated national employment rates and substantial home equity reserves to stabilise property markets against forced selling pressures.