Updated October 2026. Rewritten with figures to September 2026. The charts further down are from our original September 2024 update and are kept for comparison.
Brisbane’s market turns after a long run
Brisbane was Australia’s strongest capital through 2024 and 2025. In 2026 the picture changed. Cotality’s figures show Brisbane values peaked in May, then fell; in September 2026 they dropped 1.5% in a month, the steepest fall of any capital. Nationally, values have fallen for six months in a row and are 5.2% below their March peak.
Two things drove the turn: affordability after years of growth, and higher rates. The Reserve Bank raised the cash rate to 4.60% in late September 2026, its fourth increase of the year. Cotality’s research director suggested a 10–15% national fall from peak is a reasonable expectation.
Brisbane dwelling values
Even after the recent falls, Brisbane values are well above a year ago. At the end of August 2026, Cotality put the Brisbane median dwelling value at about $1.08m, up 10.8% over 12 months but 2.7% below the May peak.
House prices in Brisbane
The Brisbane median house value was $1,180,552 in August 2026, up 10.3% over the year. In September 2024, when this article first ran, it was $973,534.
September 2024 chart from the original article. Source: CoreLogic (now Cotality).
Unit prices in Brisbane
Units have outperformed houses on annual growth: the median unit value was $854,721 in August 2026, up 13.2% over 12 months, compared with $661,925 in September 2024.
September 2024 chart from the original article. Source: CoreLogic (now Cotality).
The rental market in Brisbane
Rents are still rising. SQM Research reported a Brisbane vacancy rate of 0.9% in July 2026 and a combined asking rent of about $756 a week, up 8.3% over 12 months. Cotality’s gross yields for Brisbane were 3.3% for houses and 4.1% for units in August 2026. Vacancy measures differ between providers, so it pays to check the suburb rather than the city average.
September 2024 chart from the original article. Source: CoreLogic (now Cotality).
Supply and population
Queensland grew by 1.6% (about 92,000 people) in 2025, faster than the national rate. Dwelling approvals reached 47,623 in the year to June 2026, a ten-year high but still short of the roughly 53,500 a year needed for the state’s housing target. Big projects continue, including the Victoria Park Olympic stadium, where construction began in June 2026.
Summary
Brisbane’s long-term drivers, population growth, undersupply and the 2032 pipeline, are still in place, but the short-term market is softer than at any point since 2022. Terry Ryder of Hotspotting said at the start of 2026 that Brisbane was part of the next phase of growth; that view predates the mid-year downturn. For investors with a long time frame, a falling market can mean less competition and more negotiating room, but cash flow at a 4.60% cash rate needs careful testing.
Our latest builder and developer stock lists (July–October 2026) include 59 new listings in Brisbane, priced from $685k to $4.35m with a median of $1.41m. These are indicative figures across many projects, not a single offer. Current suburbs, land and build prices and rents are on our Brisbane property investment page.
For more, see our Brisbane property market outlook 2026 and Brisbane housing supply crisis 2026.
Sources: Real Estate Business, Brisbane update August 2026; API Magazine; Cotality Home Value Index, September 2026; ABC News, 1 Oct 2026; SQM Research vacancy rates, July 2026; Cotality HVI report (data to 31 Aug 2026); CommBank on the RBA September 2026 decision; QGSO population growth, Dec 2025; Master Builders Queensland; Austadiums; Terry Ryder in API Magazine, Jan 2026.
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