REDLANDS land prices have surged to a record high, with the median lot price jumping 9.3 per cent in the September quarter to $595,000 – an increase of nearly $100,000 in just 12 months.
According to new data from Oliver Hume Property Group, South East Queensland’s median lot price rose 9.9 per cent in the quarter to $483,600, setting a new record and placing the region ahead of Melbourne on both a median price and price-per-square-metre basis.
The latest figures show Redlands remains one of the more expensive markets in the region, outpacing Brisbane’s 1.5 per cent annual growth and well above the $445,900 median in Ipswich and $420,500 in Logan.
Oliver Hume Chief Economist Matt Bell said buyers had been given only a short reprieve from rising prices earlier in the year before growth accelerated again.
“These price levels are new historical highs, and with Melbourne’s median lot price easing, rising by only 2.1 per cent in the September quarter, it’s likely to be a long time until the Melbourne median land price threatens South East Queensland’s,” he said.
Mr Bell said the strong performance of the South East Queensland market through 2024 and 2025 was likely to temper future growth.
“South East Queensland is already operating close to the market’s ability to deliver new supply, and it has now lost its affordability advantage over Melbourne,” he said.
“We expect volumes to push moderately higher and price growth to ease from the current high levels but remain solidly positive.”
While land sales volumes fell modestly overall – down 7.1 per cent compared to June – demand remained strong across most corridors.
Logan reclaimed the title of highest-selling area, with sales up 3 per cent, while Ipswich rose by a significant 6 per cent.
The Gold Coast continued to perform strongly, selling 41 per cent more lots on a rolling annual basis than the previous year.
Oliver Hume’s data shows the Redlands market has seen one of the steepest year-on-year rises in South East Queensland.
