Home Price Index breakdown: Property values in QLD right now

November 2024

Brisbane has retained its rank as the second most expensive capital city, according to PropTrack's latest Home Price Index. Prices surged 0.28% in November to hit a new peak, with the home median value now sitting at $868,000.

Prices in the Sunshine State capital trail only Sydney, where the median is $1.112 million.

Brisbane also remains a strong capital city for annual growth.

After Perth and Adelaide, Brisbane had the third strongest annual growth of 12.56%.

This three-bedroom house for sale in Enoggera in Brisbane's north west is open to offers from $1,470,000 Picture: realestate.com.au

“This prolongs a run of strong growth in Brisbane that has seen Brisbane become the second-most expensive capital, ahead of Melbourne and Canberra, with prices up 80% over the past five years,” explained REA Group senior economist Eleanor Creagh.

However, while buyers have enjoyed greater choice throughout spring, the increase in stock for sale has seen the pace of price growth slow, Ms Creagh said.

“Despite this, Brisbane remains one of the strongest performing capital city markets over the past year.”

In regional Queensland, prices surged over the month by 0.21%, and 10.88% over the year.

The median value of $709,000 is the second highest of the nation’s regions, after regional NSW, where the median is $732,000.

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%.