Brisbane Property Market – Prices, Trends, Forecast [November 2026]

Brisbane is recording the fastest current decline among the capitals, with dwelling values falling 6.1% over the quarter to October. The speed of this correction is eroding earlier gains and changing the city’s position within the national downturn. A sharp contraction in sales adds to the evidence of weakening demand, making the retreat more consequential than the still-positive annual growth figure suggests.

Key Takeaways

Watch Cotality’s Housing Market Update for expert commentary on national and capital city housing trends, price movements, and key market drivers across Brisbane.

Brisbane Property Price Growth

Five-year dwelling growth of 46.1% shows how much of Brisbane’s earlier upswing remains, but annual growth had narrowed to just 0.4% by October 2026. Values fell 2.0% during October and were 8.3% below their May peak, leaving the median dwelling value at $1,018,401. Virtually every suburb recorded falling values over the latest three months.

Across property types, houses declined 0.2% annually, while units retained growth of 3.4%. Median values were $1,111,530 and $811,084 respectively. Both segments weakened over the quarter, with houses down 6.2% and units 5.6%. Among Greater Brisbane’s published statistical areas, Ipswich Hinterland retained the strongest annual growth at 7.9%, a longer measurement period than the widespread recent suburb declines.

Brisbane Property Market Trends

Sales activity has contracted sharply: modelled Brisbane home sales over the past three months were 29% lower than a year earlier. Fewer completed transactions reinforce the evidence of weaker demand, giving the city’s downturn an activity dimension beyond falling valuations.

Rents continued to rise, with annual increases to October of 6.7% for houses and 6.1% for units. Vacancy rates were higher than a year earlier, indicating some easing in rental occupancy conditions despite those increases.

At 4.3%, gross unit yields exceeded the 3.5% available on houses. These returns measure rental income relative to property value before expenses. Nationally, higher financing and ownership costs continue to constrain investment economics, so rental growth alone offers an incomplete picture of potential investment returns.

This table provides a snapshot of housing value performance across major markets.

Brisbane Property Market Forecast

Earlier national interest-rate increases continue to constrain demand, with the cash rate at 4.60%. Brisbane’s sales contraction leaves the market exposed to these pressures, and further near-term easing in values appears likely within the broader national downturn. Another rate rise remains a possibility, which would further restrict borrowing capacity and increase servicing costs. Nationally, limited new construction and continued population growth should help contain the decline. These supports temper the outlook, but do not yet establish a basis for expecting Brisbane’s rapid correction to give way to renewed growth.

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 (Reviewed September 2026):

• ANZ expects capital-city prices to decline in both 2026 and 2027. ANZ forecast coverage
• CBA expects further national price declines before a modest recovery during 2027. CBA housing outlook
• NAB forecasts lower prices across the eight capital cities in 2026. NAB Housing Monitor
• Westpac’s June forecast anticipates flat prices in 2026 and growth in 2027, although its September update warns of further downside. June Housing Pulse, September housing update

For the remainder of 2026 and into 2027, this means:

• A softer near-term outlook: The bank updates point to continued pressure on property prices, replacing the earlier expectation of broadly rising values. NAB.
• Different conditions between cities: Sydney and Melbourne face the largest forecast declines in CBA’s outlook, although weakness has also spread to Brisbane, Perth and Adelaide. CBA.
• Borrowing costs remain important: The timing and strength of any recovery depend partly on interest rates. CBA’s forecast for modest growth in 2027 assumes rate cuts during that year. CBA.
• More negotiating room for buyers: Westpac reports rising listings and expects buyers to have greater bargaining power in many markets heading into spring. This is an interpretation of market conditions, not a guarantee for individual properties. Westpac.

Explore More Queensland Property Insights

• Hervey Bay Property Market
• Gold Coast Property Market
• Sunshine Coast Property Market
• Cairns Property Market
• Toowoomba Property Market
• Gladstone Property Market

Conclusion

Still valued above a million dollars at the dwelling median, Brisbane is undergoing a substantial adjustment from its recent peak. Widespread price falls and reduced sales now carry greater significance than residual annual gains. The city’s immediate market direction rests on whether this pronounced weakening in demand eases.

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