Prestige Brisbane Residential | Spring 2026 Report

Brisbane's prestige property market enters Spring 2026 with strong buyer demand, rising sales activity and continued interest from high-net-worth Australians. Prestige transactions have increased over the past year, homes are selling faster than they were 12 months ago and Brisbane continues to strengthen its position as one of Australia's most sought-after luxury property markets. While price growth has moderated, tight rental conditions and expanding wealth levels continue to support the prestige sector.

Market snapshot
Brisbane recorded 677 prestige residential sales above $3 million in the year to Q2 2026, representing annual growth of 16% and significantly exceeding the five-year average. The super-prestige market also continues to expand, with properties above $5 million accounting for 26% of prestige sales, up from 16% a year ago. Super-prestige sales volumes increased 87% over the past year, highlighting growing demand from affluent buyers seeking premium Brisbane property.

Prestige property prices
Brisbane prestige residential property prices increased 2.6% over the year to Q2 2026 despite a modest 0.7% decline during the most recent quarter. Prestige apartments continued to outperform prestige houses, recording five-year growth of 27.1% compared with 14.9%. Looking ahead, McGrath Research forecasts Brisbane prestige property prices will remain stable through the remainder of 2026 before returning to growth in 2027.

Prestige rental market
Prestige rental conditions remain exceptionally tight, with Brisbane's rental vacancy rate recorded at just 0.9% at the end of Q2 2026. Prestige rents increased 4.7% over the past year, supported by limited luxury rental supply and continued population growth. Prestige apartments recorded stronger annual rental growth than prestige houses, while constrained rental stock is expected to keep upward pressure on rents. McGrath Research forecasts prestige rents will rise a further 4% by the end of 2026 and 3% in 2027.

Economic drivers
The Brisbane prestige market continues to benefit from several favourable economic and wealth creation trends. Australia's ultra-high-net-worth population grew by 32.5% between 2021 and 2026 and is forecast to increase by a further 58.5% by 2031. At the same time, stock market growth and ongoing economic expansion continue to support demand for prestige residential assets despite broader economic uncertainty and higher interest rates.

Outlook for Brisbane prestige property
Brisbane's prestige property market is expected to remain resilient through the remainder of 2026. While price growth is forecast to stabilise in the short term, strong sales activity, a growing ultra-wealthy population and ongoing demand for premium residential assets are expected to support market performance over the longer term. Tight rental market conditions are also likely to continue, helping underpin further rental growth and investor interest across the prestige sector.
Explore the full Spring report for detailed insights into prestige sales activity, luxury property values, rental market performance and the economic drivers shaping Brisbane's prestige property market.