Queensland Property Market: Brisbane Hits $1 Million Median
Brisbane's median dwelling value has officially surpassed $1 million, cementing Queensland's transformation from "affordable alternative" to major market. But with strong fundamentals and the 2032 Olympics on the horizon, many believe there's more growth to come.
What's Driving Queensland's Boom?
- Interstate migration: Queensland attracts the lion's share of Australians moving between states
- Infrastructure investment: Cross River Rail, Brisbane Metro, Queen's Wharf precinct
- Olympics effect: 2032 Games driving confidence and development
- Lifestyle appeal: Climate, affordability (relative to Sydney), and quality of life
Hot Brisbane Suburbs
Suburbs showing strong performance include:
- Nundah: 14.1% house growth, 22.8% unit growth
- Chermside: Health precinct and retail hub driving demand
- Wynnum: Bayside lifestyle continues to outperform
- Algester: Family demand and relative affordability
Queensland's $30,000 First Home Grant
Queensland offers Australia's most generous grant: $30,000 for new homes under $750,000. This enhanced amount applies to contracts signed by 30 June 2026, after which it reverts to $15,000.
If you're a first home buyer in Queensland, act before the June 2026 deadline.
Beyond Brisbane
Growth isn't limited to Brisbane:
- Gold Coast: Strong tourism and lifestyle market
- Sunshine Coast: Sea-changers driving demand
- Toowoomba: Regional hub with affordability
- Townsville: Defence and resources sector support
Looking Ahead
By 2032, Queensland's population is expected to rise by over 16%, with the majority concentrated in and around Brisbane. This structural shift suggests ongoing housing demand for years to come.