QUEENSLAND has cemented its position at the forefront of Australia’s housing upswing, with Brisbane and key regional centres recording some of the strongest price growth in the country, according to the latest PropTrack Home Price Index for October.
Brisbane home values rose 0.9 per cent in October and now sit 12.6 per cent higher than a year ago – the second-fastest annual rise of any capital city behind Darwin. Regional Queensland has also outperformed, lifting 11.2 per cent over the past 12 months as lifestyle markets continue to draw buyers from across the country.
Nationally, prices climbed another 0.6 per cent in October to hit a new record high, bringing annual growth to 7.5 per cent.
But Queensland’s markets have consistently exceeded the national pace, buoyed by relative affordability, strong interstate migration, lifestyle appeal and renewed investor activity.
PropTrack senior economist Eleanor Creagh said the Sunshine State’s dominance had been unmistakable.
“The past year’s strongest markets have been concentrated in Queensland where comparative affordability, lifestyle appeal and investor appetite have amplified gains,” she said.
Growth remains brisk across Brisbane, the Gold Coast and Sunshine Coast, although the pace has eased slightly from earlier in the year as more homes come onto the market. Despite Queensland’s strong run, Ms Creagh warned that stretched affordability would limit how fast prices could continue to rise.
“Even with interest rate cuts restoring borrowing power, national annual growth remains well below the 20-30 per cent surges of previous booms,” she said.
With listings still tight and population growth showing no signs of slowing, analysts expect Queensland’s property momentum to carry through summer – keeping sellers firmly in control.
