After years of rapid home price growth, Brisbane’s property market is cooling but experts believe the capital city will see slowing price growth rather than major value falls.
Over the past year alone, Brisbane’s median home price has jumped a whopping $114,700 in July despite easing property market conditions.
Transaction activity has been slowing in Brisbane compared to the break-neck speeds witnessed in recent years, and local agents say the next phase may be defined less by a dramatic price correction, and more by a prolonged battle over ‘who blinks first’.
Australian home prices fell for the fourth straight month in July, driven by three cash rate hikes, federal budget reforms, housing affordability pressures and other factors.
In the month of July, Brisbane’s median home price dropped 0.3% to $1.06 million, following a 0.2% dip in June that ended the city’s 3.5-year growth streak.
However, Brisbane home prices are still 11.1% higher than a year ago, and 78.6% higher than five years ago.
Brisbane’s median home price has jumped 11.1% during the past year. Picture: Getty
Avi Khan, group chief executive at Ray White AKG, said the market was “nervous”, with buyers and sellers largely remaining on the sidelines.
“We’ve seen a rapid pace of growth in the last 12 months obviously, but we think it’s moderating now, that’s why you’re seeing the prices coming back,” he said.
“There’s no shortage of stock, so it’s definitely a buyer’s market.
Fastest growing suburbs in Brisbane – houses
| Suburb | Region | Median home price | Annual price change |
| Booval | Ipswich | $812,000 | 31% |
| Runcorn | Brisbane – South | $1,280,000 | 31% |
| Burpengary East | Moreton Bay – North | $1,160,000 | 29% |
| Woody Point | Moreton Bay – North | $1,100,000 | 28% |
| Churchill | Ipswich | $775,000 | 27% |
| Nundah | Brisbane – North | $1,585,000 | 27% |
| Auchenflower | Brisbane Inner City | $2,187,500 | 27% |
| White Rock | Ipswich | $1,050,000 | 25% |
| Chambers Flat | Logan – Beaudesert | $1,310,000 | 25% |
| Riverhills | Brisbane – West | $1,175,000 | 25% |
“Buyers have more choices, but things are staying on the market a little bit longer.”
On the supply side, new property listings increased 6.6% year-on-year in July, while total buy listings were up 17.7%.
The city’s property market is facing a stalemate, with many buyers wary of further price falls, while sellers, buoyed by substantial equity, have little pressure to accept lower offers.
Ray White’s Avi Khan says the market is ‘nervous’, with buyers and sellers largely remaining on the sidelines. Picture: Supplied
Brett Greensill, real estate agent at McGrath New Farm, said buyers had leverage, but sellers weren’t under enough pressure to budge.
“Certainly the market is facing headwinds, as it has most of the year,” he said.
“I would characterise what’s happening currently as the buyers (are) on strike.
Fastest growing suburbs in Brisbane – units
| Suburb | Region | Median home price | Annual price change |
| Woodridge | Logan – Beaudesert | $570,000 | 37% |
| Waterford West | Logan – Beaudesert | $627,500 | 36% |
| Kingston | Logan – Beaudesert | $630,000 | 33% |
| Marsden | Logan – Beaudesert | $725,000 | 32% |
| Dakabin | Moreton Bay – South | $775,000 | 32% |
| Kooralbyn | Logan – Beaudesert | $367,000 | 31% |
| Strathpine | Moreton Bay – South | $705,500 | 29% |
| North Lakes | Moreton Bay – South | $777,500 | 27% |
| Logan Central | Logan – Beaudesert | $496,000 | 27% |
| Spring Hill | Brisbane Inner City | $720,000 | 27% |
“It seems to me that there’s no pressure on sellers – most of them are ahead on their mortgage; very few of the sellers who come to market are in this negative equity that’s getting talked about now.
“And so, the question is, ‘who will blink first, the buyers or the sellers’?”
Mr Greensill said transactions were still occurring, but agents were working harder.
This three-bedroom house in Booval sold for $803,000 in June. Booval had the fastest growing house prices in Brisbane for the year to July. Picture: realestate.com.au/sold
“These buyer strikes, they’ve happened from time to time after floods or the GFC or changes in government,” he said.
“They happen, but usually one or the other party has pressure on them quite quickly, you know the banks chasing mortgages or the values are going up or down.
“But this time, not much is happening, so this strike has gone on longer than normal and actually, if I was predicting what was going to happen, I think it’s going to continue for some time.”
McGrath’s Brett Greensill says buyers have leverage, but sellers aren’t under enough pressure to budge. Picture: Supplied
Peter Florentzos, sales agent at LJ Hooker – Property Partners | Sunnybank Hills | Mount Gravatt, described it as an ‘uncertain market’.
He said sellers still wanted March prices, while buyers were holding back in case values dropped further.
“There’s the confident market, the unconfident market and the uncertain market,” he said.
This two-bedroom unit in Woodridge sold for $550,000 in July. Woodridge had the fastest growing unit prices in Brisbane for the year to July. Picture: realestate.com.au/sold
“The uncertain market’s probably the worst market to be in because no one can make a decision.
“It’s very hard for sellers to make a decision; it’s very hard for buyers to make a decision.”
Agents anticipate Brisbane’s property market will continue to stabilise to the end of 2026.
LJ Hooker’s Peter Florentzos says Brisbane is navigating an ‘uncertain market’. Picture: Supplied
Mr Greensill expects more sellers will come to market, increasing choice and competition between vendors, while Mr Florentzos agrees the current conditions will persist for three to six months, followed by substantially more listings.
Mr Khan said units and townhouses would outperform houses due to affordability.
He said strong migration, infrastructure spending (Olympics 2032) and tight rental vacancies should provide a floor under prices.
“The key takeaway from Brisbane right now is slowing growth is not a falling market,” Mr Khan said.
“We’re moving out of an unsustainable growth pattern into… a healthier, more normalised real estate landscape that’s more balanced.
“There’s something in it for buyers and sellers alike.”
