Brisbane Spring 2026 Property Market Report

Brisbane's property market enters Spring 2026 with momentum continuing despite softer sales activity. Property values remain among the strongest performing of any capital city, supported by population growth, limited housing supply and ongoing demand from both owner occupiers and investors. While annual sales volumes have eased, homes are continuing to sell quickly, highlighting the resilience of Brisbane's residential market.

Market snapshot

Brisbane recorded 49,355 residential property sales in the year to Q2 2026, representing a 6% decline compared to the previous year. Despite lower transaction volumes, homes are selling faster than a year ago, averaging just 17 days on market. New listings increased by 0.8% over the year, while total listings rose 23.2%, giving buyers more choice than they have experienced in recent years.

Property prices

Brisbane residential property values continued their strong growth trajectory, rising 19.2% over the year to Q2 2026. The median residential property value now sits at $1,130,700, with prices increasing a further 0.3% during the most recent quarter. Looking ahead, McGrath Research forecasts Brisbane residential property prices will rise by 5% by the end of 2026, followed by a further 3% increase in 2027 as housing demand continues to outpace supply.

Rental market

Rental conditions remain extremely tight across Brisbane, with vacancy rates recorded at just 0.9% at the end of Q2 2026. Strong population growth and limited rental supply continue to place upward pressure on rents, with median weekly rents rising 6.3% over the past year to $670 per week. McGrath Research forecasts Brisbane rents will increase by a further 5% by the end of 2026 and 6% in 2027.

Economic drivers

Brisbane's property market continues to benefit from strong population growth, which reached 2.1% in 2025 and remains above many other capital cities. However, housing supply constraints persist, with new home completions across Queensland declining 1.9% over the year despite a significant increase in building approvals. Construction costs also increased 6.5% during 2025, adding further pressure to the delivery of new housing stock. Brisbane's unemployment rate remains below 5%, supporting ongoing housing demand and market confidence.

Outlook for Brisbane property

Brisbane's long-term fundamentals remain strong, underpinned by robust population growth, ongoing infrastructure investment and constrained housing supply. McGrath Research forecasts residential property values will continue rising through 2026 and 2027, although affordability pressures and interest rates may moderate the pace of growth. Tight rental conditions are also expected to persist as supply struggles to keep pace with demand, supporting further rental growth over the coming years.

Explore the full Spring report for detailed insights into sales activity, housing supply, property values and rental market performance across Greater Brisbane.