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

Brisbane’s previously buoyant property market recorded the steepest monthly decline among Australia’s capitals, with dwelling values falling 1.5% in September 2026. This sharp reversal marks a clear break from the city’s earlier strength.

Fewer homes are changing hands even though property values remain substantially higher than several years ago. Positive annual results therefore sit alongside a weakening market, making the distinction between accumulated growth and current conditions important to understanding Brisbane’s adjustment.

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

The September quarter erased 4.7% from dwelling values, even as Brisbane retained annual growth of 5.9%. September’s 1.5% fall left values 5.4% below their May 2026 peak, showing how quickly the recent direction has diverged from the annual result. Values were just 0.1% higher over the year to date. Yet the longer perspective remains substantially stronger, with gains of 55.4% over five years and 105.3% over a decade.

Units maintained the stronger annual performance, up 8.5% compared with 5.3% for houses, but quarterly declines of 4.2% and 4.9% respectively confirm that both property types were weakening. The estimated median unit value was $834,627, against $1,146,078 for houses, while the dwelling median stood at $1,048,880. Local annual results were stronger in parts of Greater Brisbane, including 10.7% growth in Sherwood–Indooroopilly and 10.1% in Ipswich Hinterland, illustrating differences beneath the citywide figures.

Brisbane Property Market Trends

Transaction activity has contracted sharply: estimated Brisbane home sales over the past three months were 27.2% below a year earlier, the steepest decline among the capitals. Across the combined capitals, total advertised stock was 23.1% higher than a year earlier, despite a 9.2% decline in new listings. Sales fell faster than fresh listings, expanding buyer choice across the broader capital-city market.

Rental conditions have not mirrored the weakness in transactions. Brisbane’s house rents rose 6.7% over the past year and unit rents increased 5.9%, alongside a September vacancy rate of 2.1%.

Gross rental yields in Brisbane were 3.5% across dwellings, with units at 4.2% and houses at 3.4%. Units therefore offered the stronger gross income yield, but the national investment backdrop remains constrained by high interest, insurance, maintenance and strata expenses, so gross yields do not establish positive cash flow.

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

Brisbane Property Market Forecast

With estimated sales over the past three months down 27.2% on a year earlier, demand is Brisbane’s main near-term vulnerability. Further value declines appear more likely than a rapid recovery, given national pressures from higher mortgage costs, reduced borrowing capacity and weak confidence. Australia’s constrained construction pipeline offers a counterweight, with high costs and delivery delays limiting new housing. Relatively low national unemployment helps support household incomes and may limit forced selling. These influences point towards a gradual further easing, with labour-market resilience and supply restrictions potentially moderating the adjustment rather than bringing an immediate return to 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

Conclusion

Substantial past gains still distinguish Brisbane, including strong annual results in some areas, but current conditions point towards further adjustment. Declining turnover gives that change weight beyond the movement in values.

Rising rents offer a contrasting income backdrop without signalling renewed buying strength. Brisbane’s market is now responding to weaker demand rather than extending its earlier upswing.

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