Home values continue to trend higher across Brisbane, but the pace of gains has noticeably cooled. January’s 0.3% rise was the smallest since February of 2023 as higher stock levels, lower population growth and affordability constraints support a slowdown in conditions.
The softer conditions are most evident across higher price points, with upper quartile dwelling values flat in January while lower quartile values rose by 0.6%. Slowing housing market conditions can also be seen in vendor metrics where homes are selling in a median of 27 days, up from just 18 days at the same time last year.
Brisbane house prices graph
Unit values have been rising at a much faster rate than house values across Brisbane consistently since December last year, rising by a cumulative 18% over the past 12 months, while house values are up a smaller 11%.
Brisbane house prices – the longer-term data
CoreLogic’s data shows how Brisbane house prices have rapidly risen and fallen over the longer term, and the extreme dwelling value changes over the past few years in particular.
The Brisbane property market upswing in 2021 was one of the strongest property price growth periods in Australia’s history.
And it was followed by an equally historic drop in prices in the 12 months that followed.
Even today the city sets records for its dwelling values, having recovered to pandemic highs.
Looking further back, over the past 30 years, Brisbane dwelling values have increased by a whopping 340% (5.1% per annum), with the highest rate of growth recorded through the middle decade (2002-2012) when housing values were up 74%.
In comparison, dwelling values increased by 49% between 1992 and 2002, and by 71% over the most recent decade.
House values have increased by more than double the number of unit values across Brisbane, making for the largest 30-year growth differential between houses and units across the capital cities.
Houses recorded a 30-year growth rate of 390%, equating to a dollar value increase of approximately $703,700.
Over the same period, unit values were up 170%, or approximately $317,670.
The highest 30-year growth rate across Brisbane’s SA3 sub-regions was a 613% gain in house values across the Inner East, taking the median value approximately $1,344,120 higher.
