Brisbane Property Market – Prices, Trends, Forecast [January 2025]

Brisbane’s property market remained resilient in 2024, showcasing strong annual growth of 11.2% in dwelling values. This performance positioned it as one of the top mid-sized capitals, benefiting from increasing affordability pressures in larger markets and limited stock availability.

Brisbane Property Price Growth

Brisbane’s median dwelling value rose to $890,746, reflecting its consistent growth trajectory. The peak annual growth rate reached 17% in April 2024, though growth has since moderated. Within the city, Ipswich Inner and Ipswich Hinterland led price increases, with annual growth rates of 16.4% and 16.3%, respectively.

CoreLogic Home Value Index

CoreLogic Home Value Index, Released on 1st January 2025

Brisbane Property Market Trends

Brisbane experienced:

• A quarterly increase of 1.3% in dwelling values, underscoring its steady market conditions despite a slowdown in other capital cities.
• Increased demand for lower-priced dwellings, attributed to reduced borrowing capacity and rising cost-of-living pressures.
• Declines in gross rental yields by 54 basis points to 3.2%, due to faster growth in dwelling prices compared to rents.

Change in dwelling values over key time periods

Brisbane Property Market Forecast

The market is expected to stabilize in 2025, with potential for modest growth driven by:

• Interest rate reductions, which may increase buyer borrowing capacity.

• Continued low stock levels, supporting housing demand. However, affordability constraints and moderating migration rates could temper growth momentum.

The Reserve Bank of Australia’s ongoing adjustments to interest rates will likely play a crucial role in shaping market dynamics, as higher borrowing costs limit purchasing power for many buyers.

Here are some of the most recent forecasts by the big-4 banks in Australia:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics recently released property forecasts predicting where house prices will be in three years.

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Conclusion for Homeowners

Brisbane’s market showcased remarkable resilience and steady growth in 2024, but the pace of growth is expected to slow in 2025. While the city remains attractive for both buyers and investors, affordability and policy changes will be key factors influencing its performance.

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