Report finds Brisbane house prices will increase almost 11 per cent this year<\/a><\/p>\nBrisbane house prices are expected to increase by almost 20 per cent over the next two years, a report has found.<\/p>\n
Prices across the nation’s capitals rose 0.5 per cent on average, taking the median home value over $1 million for the first time.<\/p>\n
The average house in Brisbane has increased by 14.6 per cent since February last year, reaching a median value of more than $1.2 million.<\/p>\n
“Buyers have limited choices, and that’s continuing to put a floor under house prices,” Ms Creagh said.<\/p>\n
Head of research at Cotality, Tim Lawless, said while Brisbane home prices were rising at “about double the national pace”, some steam was starting to leave the market.<\/p>\n
Cotality’s data for February showed an increase in home values of 1.6 per cent, against a national rate of 0.8 per cent for the month.<\/p>\n
“We are starting to see some signs of momentum coming out of the marketplace, probably due to things like higher interest rates, lower confidence, and increasingly just affordability and serviceability constraints,” he said.<\/p>\n
“It has been a bit of a slowdown in the rate of growth.”<\/p>\n
Units seeing strong growth<\/p>\n
Unit growth is beginning to outpace house growth in Brisbane, with a price increase of 20.3 per cent in the past year.<\/p>\n
Ms Creagh said units had become a more attractive proposition as house prices soared.<\/p>\n
“With home values \u2026 close to doubling or even doubling in some parts of the state, it’s natural at this time of the cycle \u2026 that buyers are starting to look for more affordable options,” she said.<\/p>\n
“For some, that comes with a location trade-off, and for others, that comes with a property type trade-off.”<\/p>\n
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Unit price growth has outpaced house prices, growing more than 20 per cent across Queensland in the past year. (ABC News: Christopher Gillette)<\/p>\n
Mr Lawless said units also drew more investor interest than houses.<\/p>\n
“I think part of this is just reflective of relatively high levels of investment activity across south-east Queensland,” he said.<\/p>\n
“Increasingly as well, it’s a reflection of both more demand coming into that medium-to-high density sector because price points are lower, but also simply that we aren’t seeing a lot of new developments in [that] sector.”<\/p>\n
The average unit in Brisbane is now worth $831,000, with that price hitting $798,000 in the rest of the state.<\/p>\n
Regional surge continues<\/p>\n
Queensland’s regional areas have kept pace with the capital, with home prices increasing 0.7 per cent over February and 13.4 per cent since the same time last year.<\/p>\n
Regional city centres have also experienced a rush over the past year, with Ipswich, Logan, and Toowoomba all seeing spikes in value.<\/p>\n
“We’re seeing that these are markets where buyer demand remains strong. There’s still those comparatively affordable pockets, which [are] certainly seeing the strongest case of home price growth,” Ms Creagh said.<\/p>\n
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Queensland’s regional towns are experiencing strong growth due to affordability constraints in the capital. (ABC: Russel Talbot)<\/p>\n
Annual growth in home prices in Ipswich reached 19.7 per cent, with Logan seeing an increase of 19 per cent and Toowoomba growing by 18.2 per cent.<\/p>\n
Ms Creagh said Ipswich and Logan were benefiting from their adjacency to Brisbane, along with constrained affordability in the capital.<\/p>\n
“This is really an outer ring acceleration story with sustained demand in more affordable south-east Queensland markets.”<\/p>\n
Growth beginning to slow<\/p>\n
Ms Creagh said the pace of growth would begin to ease due to a number of factors, including monetary and housing policy, on the back of an interest rate rise last month.<\/p>\n
“But probably more importantly is the outlook with another interest rate rise expected in May,” she said.<\/p>\n
“Affordability also being at very, very low levels already, and some uncertainty around capital gains taxation changes, negative gearing changes \u2026 probably the period ahead we’re going to see slower and more uneven growth as those factors weigh on home buying demand.”<\/p>\n
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Ms Creagh says the pace of growth is expected to ease slightly over the next year. (ABC News: Lucas Hill)<\/p>\n
Ms Creagh said momentum was beginning to ease, even in strong growth markets like Logan and Ipswich.<\/p>\n
“That is reflective of the period ahead likely being a little more uncertain and the pace of home price growth continuing to slow throughout 2026,” she said.<\/p>\n","protected":false},"excerpt":{"rendered":"Brisbane house prices have hit a new peak as growth in the market continues to accelerate. The average…\n","protected":false},"author":2,"featured_media":263673,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,651,99,10930,7688,57671,5626,21131,94869,43014,237326,257046,19952],"class_list":{"0":"post-513596","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-au","9":"tag-australia","10":"tag-brisbane","11":"tag-business","12":"tag-house-prices","13":"tag-housing","14":"tag-housing-policy","15":"tag-interest-rates","16":"tag-mortgage","17":"tag-proptrack","18":"tag-rate-hike","19":"tag-regional-queensland","20":"tag-rent-prices","21":"tag-rental"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/513596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=513596"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/513596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/263673"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=513596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=513596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=513596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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