The Brisbane suburbs with the biggest price gains and falls
Brisbane property prices continue to edge upwards but it is the affordable suburbs and property types that are doing the heavy lifting.
The Brisbane property market has been among a trio of state capitals at the vanguard of capital growth in Australia for a couple of years but a change is in the air.
The Queensland capital continued its steady, but slowing, trajectory in February 2025, with marginal growth recorded across the city.
According to the latest CoreLogic data, Brisbane’s median dwelling value increased by 0.2 per cent over the month, a slight slowdown from January’s 0.3 per cent rise. The quarterly increase now stands at 0.9 per cent, down from 1.2 per cent in January.
Comparatively, on an annual basis, Brisbane remains one of the stronger capital city markets in Australia, with an annual dwelling value increase of 9.7 per cent.
This performance is ahead of Sydney (+1.1 per cent) and Melbourne (-3.2 per cent), while trailing behind Adelaide (+11.9 per cent) and Perth (+14.3 per cent). The latest monthly data, however, suggests, that other capital city markets are starting to recover with stronger monthly growth recorded in Sydney, Melbourne, Adelaide, Perth and Hobart, compared to Brisbane.
The segmentation between the housing market and the unit market in Brisbane remains obvious, with units continuing to outperform on a monthly, quarterly and annual basis.
Affordability has played a significant role in shaping market trends, particularly in the Ipswich SA4 region, which recorded an impressive 14.24 per cent growth over the last 12 months.
Despite Ipswich’s current median dwelling value of $720,000, the affordability advantage may soon diminish as household budgets are stretched by rising property prices and rental costs.
The affordability-driven growth trend has also been evident at a broader market level, with lower-value properties continuing to appreciate faster. The lower quartile of the Brisbane market recorded a quarterly growth rate of 2.2 per cent, whereas the upper quartile slowed to just 0.4 per cent.
Despite this, higher-end properties are still seeing strong demand, with notable sales including a $5.8 million auction sale on Yabba Street, Ascot, and a competitive bidding war for a Kedron property, which sold for $1.5 million with 15 registered bidders.
Not all suburbs have experienced positive growth across Brisbane.
Quarterly declines were recorded in some housing markets, according to CoreLogic, including Hendra (-3.5 per cent), Robertson (-3 per cent), Wooloowin (-3.7 per cent), and Wilston (-4.4 per cent). Conversely, house values have increased in MacGregor (+3.6 per cent), West End (+6.1 per cent), and Eagleby (+3.1 per cent).
It is important to recognise that short-term quarterly price trends at a suburb level can often be more reflective of the specific properties that have transacted rather than true price fluctuations across the broader local market. This compositional bias must be considered when analysing such localised trends.
Units continue to outperform houses
Cyclone Alfred is likely to have short-term impacts on the market, as prospective buyers take a cautious approach while assessing potential structural or flood risks.
This major weather event may temporarily dampen demand for Brisbane property, creating a period of uncertainty in the immediate future. The full extent of its impact will become clearer over time.
Meanwhile, February’s interest rate cut is likely to inject renewed confidence into the market, especially as the uncertainty around the cyclone passes, with increased borrowing capacity and improved sentiment expected to influence buyer behaviour in the coming months.
The unit market has generally performed well, with positive quarterly growth in Ashgrove (+3.1 per cent), Brisbane City (+3.3 per cent), and Kangaroo Point (+3.9 per cent), while declines were seen in Taringa (-2.5 per cent), Sherwood (-2.5 per cent), and Enoggera (-1.6 per cent).
Sales volume trends indicate that demand remains steady, with a 3.9 per cent annual increase in Brisbane property transactions. However, construction slowdowns continue to impact supply, funnelling more demand toward existing properties.
Total listing volumes remained relatively stable in February after January’s seasonal lift, although new listings increased substantially, giving buyers entering the market more immediate choice. While Brisbane’s inventory remains tight compared to other east coast capitals, it is still well below long-term averages.
Investor and first-home buyer activity remains significant, with investors accounting for 40 per cent of housing finance commitments and first-home buyers 25.2 per cent. Auction clearance rates in Brisbane declined to 52.8 per cent, down from 55.3 per cent in January and lower than the same period last year.
Brisbane dwelling value growth subsiding
Brisbane’s median dwelling value reached $894,425 in February, reflecting a monthly increase of 0.2 per cent, a quarterly increase of 0.9 per cent, and an annual increase of 9.7 per cent.
The rate of growth has slowed compared to previous months. In comparison, Sydney and Melbourne saw stronger month-on-month rebounds (+0.3 per cent and +0.4 per cent, respectively), but remain weaker in quarterly and annual terms.
PropTrack’s data aligns with those CoreLogic findings, reporting a minor increase of 0.29 per cent in Brisbane dwelling values for February.
The median house value in Brisbane held steady in February, recording no monthly change, with the quarterly growth rate now at 0.7 per cent and the annual increase at 8.6 per cent. This marks a slowdown from January’s 0.3 per cent increase. The median house value in Brisbane is now $977,381 according to CoreLogic.
Brisbane’s unit market outperformed houses again, with a 0.7 per cent increase in median unit values in February. The segment has shown consistent strength, recording a quarterly gain of 2 per cent and an annual increase of 15.2 per cent. The median value of a unit in Greater Brisbane is now $690,650.
This divergence in performance between houses and units aligns with the broader affordability-driven demand, as buyers and investors continue to shift towards more affordable housing options.
Brisbane’s tight rental market
Brisbane’s rental market remains tight, with vacancy rates dropping to 0.8 per cent in February from 1.2 per cent in January. Annual rental growth for houses stands at 2.8 per cent, while units remain at 3.3 per cent.
The graph below demonstrates where house rents are now falling on an annual basis across many of the inner city locations, whereas unit rents in these suburbs are still increasing.
The continued deceleration in house rental growth suggests affordability constraints may be limiting further rental increases, whereas unit rents are holding steady.
Looking ahead, infrastructure projects related to the 2032 Olympics are expected to support economic growth, enhancing Brisbane’s long-term investment potential.
Overall, Brisbane’s market remains stable, with moderate price growth expected to continue through 2025, supported by favourable economic conditions and strong buyer demand.
