Brighter Buying

Market update: Brissie prices jump $40k in 3 months

by Justin Watt, CEO 3 July 2024

Brisbane’s median property price has jumped almost $40,000 in just three months to leapfrog Canberra and Melbourne and take the title of Australia’s second most expensive capital city property market.

We’re a competitive bunch north of the border (Queenslander!) but some may have mixed feelings about this title.

Our relative affordability to southern capitals has long been a selling point. So we can’t lay claim to that now we’ve finally trumped two of those southern capitals in the property popularity contest.

The median dwelling value for greater Brisbane is now $843,230 reports Australian Property Investor.

For houses, it’s $937,479 and for units it’s $615,429, both of which are now pricier than Melbourne and Canberra.

Our pace of growth is also impressive, second only to Perth which is continuing to set a blisteringly hot pace in the west having had years of sluggish growth.

Brisbane unit values in particular are rising fast, increasing by 1.9 per cent in May, taking quarterly growth to 5.3 per cent and annual growth to 18.2 per cent, making the unit sector stronger than the houses over the same period.

Want to make a move in a strong market? View our current listings for sale or talk to us about selling.