Brisbane’s red-hot real estate scene unpacked

The Brisbane property market has been serving up some seriously impressive stats over recent years, so, if you’re curious about what’s driving the growth or where the hottest opportunities lie, let’s take a look at the latest updates and highlights.

To start with, Brisbane’s median dwelling value in March hit $899,824, just shy of a nice, round $900,000, according to the CoreLogic Home Value Index for March. This reflects a 0.4% increase over the month, 0.9% over the quarter, and a whopping 8.6% rise year-on-year.

And if we look at the bigger picture, the property value has jumped an astonishing 90.8% over the past decade. That’s some solid momentum, second only to Adelaide’s growth among Australian capitals over the past 10 years.

Interestingly, regional Queensland isn’t lagging behind when it comes to annual dwelling growth. Townsville, Gladstone, and Mackay are some of the standout areas, with annual dwelling value increases of 23.5%, 22.2%, and 20.2% respectively.

Rental markets in Brisbane remain steady, with annual rent increases of 2.9% for houses and 3.9% for units. Gross rental yields are sitting at 3.7%, a figure that matches Perth and Adelaide, according to CoreLogic.

Meanwhile, total property listings for sale in Brisbane are also tightening up, according to SQM Research – declining 0.8% in March compared to February and posting a 9.8% yearly decline.

Properties on the market for over 180 days dropped by 22% compared to last year. Even distressed property listings in Queensland have reduced by 20%, showing increased buyer activity.

Population growth is another huge factor propelling demand for housing in the Sunshine State capital. Greater Brisbane welcomed 72,900 new residents over the last financial year, marking a 2.7% increase, according to the Australian Bureau of Statistics.

Migration plays a big part here, with people drawn to Brisbane’s opportunities, more affordable housing, and lifestyle. Suburbs like Ripley and Chambers Flat – Logan Reserve lead the charge with significant population growth, both in raw numbers and percentages.

Now, let’s explore the top 10 suburbs in Greater Brisbane with the highest annual growth.

Top 10 Greater Brisbane Suburbs with Highest Annual Growth (CoreLogic)

1. Beenleigh, Logan – Beaudesert, Median Value $746,844 (13.8% annual change)
2. Beaudesert, Logan – Beaudesert, Median Value $736,918 (12.6% annual change)
3. Ipswich Hinterland, Ipswich, Median Value $747,437 (12.1% annual change)
4. Browns Plains, Logan – Beaudesert, Median Value $782,579 (11.4% annual change)
5. Ipswich Inner, Ipswich, Median Value $704,242 (11.4% annual change)
6. Strathpine, Moreton Bay – South, Median Value $776,619 (11.2% annual change)
7. Springfield – Redbank, Ipswich, Median Value $759,831 (11.2% annual change)
8. Caboolture, Moreton Bay – North, Median Value $755,905 (11.0% annual change)
9. Brisbane Inner, Brisbane Inner City, Median Value $807,899 (11.0% annual change)
10. Loganlea – Carbrook, Logan – Beaudesert, Median Value $812,280 (11.0% annual change)

So, whether you’re already in the Brisbane property market or just considering taking the plunge, the market’s momentum offers plenty of food for thought.

Between rising dwelling values, strong population growth, and high-performing suburbs, Brisbane keeps proving it’s the place to be for homebuyers and investors alike.