Brisbane’s property market has reached a new milestone, with home prices climbing to record levels amid strong demand and limited housing supply.
Recent property data shows that the average home in Brisbane is now valued at approximately $1.046 million, reflecting an increase of 15.9 percent over the past year. The city has experienced one of the strongest growth rates among Australian capital cities, highlighting the continued strength of the Queensland property market.
Across Australia’s capital cities, property values have risen steadily, pushing the national median home value above $1 million for the first time.
Tight Housing Supply Driving Competition
A key factor behind Brisbane’s rising property values is the limited availability of homes on the market. Housing supply in both Brisbane and regional Queensland remains well below historical averages, creating highly competitive conditions for buyers.
With fewer properties available, buyers have limited options, which continues to place upward pressure on home prices. Despite strong demand, recent data suggests that the pace of growth may be starting to moderate slightly as affordability challenges and higher interest rates begin to affect buyer activity.
Unit Prices Outpacing House Growth
Over the past 12 months, unit prices in Brisbane have increased at a faster rate than house prices. Unit values have grown by more than 20 percent during the past year, reflecting strong demand for more affordable property options.
The average unit price in Brisbane has now reached approximately $831,000, while units in other parts of Queensland average around $798,000.
Demand for units has also been supported by increased investor activity and limited new development in medium- to high-density housing sectors. With houses becoming increasingly expensive, many buyers are turning to units as a more accessible entry point into the market.
Regional Queensland Also Experiencing Strong Growth
Property markets across regional Queensland continue to perform strongly, with home values rising 13.4 percent over the past year. In February alone, regional property values increased by 0.7 percent.
Several regional city centres have experienced particularly strong growth, including Ipswich, Logan, and Toowoomba. These areas are benefiting from increased buyer demand as affordability pressures push buyers further from Brisbane’s city centre.
Annual property price growth has been especially strong in these locations, with Ipswich seeing increases of nearly 20 percent, Logan close to 19 percent, and Toowoomba more than 18 percent.
Many buyers are being drawn to these areas due to comparatively lower property prices and their proximity to Brisbane, making them attractive options for both homebuyers and investors.
Market Growth Expected to Slow
While property values remain strong, there are signs that the rapid pace of growth may begin to ease.
Higher interest rates, affordability challenges, and potential policy changes related to housing and taxation are expected to place some pressure on buyer demand. As a result, the market may experience slower and more uneven growth over the coming years.
Although momentum may moderate, Brisbane and regional Queensland are still expected to remain among Australia’s stronger performing property markets due to ongoing demand and limited housing supply.
