Home Price Index breakdown: Property values in QLD right now

October 2024

Brisbane is still one of the strongest performing capital city markets for annual growth, with the median price for dwellings now at $862,000, according to PropTrack's latest Home Price Index. 

Prices lifted 0.19% in October to reach a new peak, although the pace of growth has slowed. 

Home prices are sitting 12.51% above October 2023 levels, making Brisbane the third strongest capital city market for annual growth. This is after Perth, where values increased 20.58% over the year, and Adelaide, where they have risen 14.91%.

“The outperformance of the Brisbane market over recent years, with prices up 80% over the past five years, has seen it become the second-most expensive capital, ahead of Melbourne and Canberra,” says REA Group senior economist, Eleanor Creagh.

This three-bedroom house for sale in Manly in Brisbane's east is open to offers over $1,060,000 Picture: realestate.com.au

Regional Queensland recorded 0.34% growth over the month to peak in October, with the median dwelling price now at $703,000, making it the most expensive regional area to buy a home after regional NSW, where the median is $728,000.

The regional monthly price growth was the second highest after regional South Australian dwellings, which lifted 0.57%.

Over the year, regional Queensland recorded robust growth of 10.45%, trailing regional WA, which rose 13.58% since October 2023, and regional SA, which went up 12.07%.