Australia’s property market is surging and all eyes are on Brisbane.
According to a recent report by ABC News, Australian property markets are experiencing their strongest growth in nearly four years. One city stands out: Brisbane has overtaken Melbourne to become Australia’s second most expensive capital city for both houses and units.
This marks the longest stretch of price growth Brisbane has seen in decades, signaling a powerful market momentum that will not be slowing down anytime soon. Dr. Nicola Powell, Chief Research and Economics at Domain points out unprecedented population influx and chronic housing undersupply as the driving forces behind Brisbane’s growth. Interstate and overseas migration into Queensland is increasing up to four times faster than in the past decade. This population influx is creating sustained demand that far outpaces supply.
Other capital cities such as Sydney, Melbourne, and Perth also have strong growth rates. Most cities now have median house prices exceeding $1 million.
The federal government’s expanded home guarantee scheme, which started October 1st is expected to further support prices, especially for units and affordable houses in other suburbs.
For prospective buyers, Dr. Powell advises applying early for eligible schemes, setting realistic budgets, and considering less-gentrified “bridesmaid suburbs” to benefit in this challenging market.
For rooming house investors, this paints a clear picture: Brisbane is no longer a “future hotspot” but a current powerhouse. As Sydney’s median house price now at $1.75 million, Brisbane offers a more accessible entry point with strong capital growth potential. Aside from population growth, affordability relative to southern capitals and significant infrastructure investment leading up to the 2032 Olympics will continue driving Brisbane’s growth. Brisbane’s chronic undersupply of housing and rising prices create an ideal environment for high-yield opportunities, especially in terms of rental income and long-term capital appreciation.
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