QUEENSLAND’S property market is showing no signs of slowing down, with the latest figures confirming strong growth across both metropolitan and regional areas.
According to CoreLogic’s national Home Value Index, property values rose by 0.4 per cent nationally in March, marking the second consecutive month of growth following a brief summer downturn.
Closer to home, Brisbane’s property market continues to gain momentum. Dwelling values in the city also rose by 0.4 per cent in March, bringing quarterly growth to 0.9 per cent and lifting annual gains to 8.6 per cent.
The city’s median dwelling value now sits at $899,824 – a figure that highlights just how far the market has come in recent years.
Since March 2020, Brisbane values have surged by a staggering 68.7 per cent, adding over $360,000 to the average home.
But it’s not just the capital that’s booming. Regional Queensland is making waves of its own, with standout growth in centres like Townsville, Gladstone, and Mackay.
Townsville recorded an annual increase of 23.5 per cent, while Gladstone and Mackay weren’t far behind, with growth of 22.2 per cent and 20.2 per cent respectively.
These regional jumps not only signal growing confidence but also reflect shifting population patterns and rising housing demand outside the major cities.
Several factors are fueling this upswing.
February’s interest rate cut by the Reserve Bank has boosted buyer confidence and improved borrowing capacity, encouraging re-entry into the market.
At the same time, supply remains tight. High construction costs, labour shortages, and delays in new developments continue to place upward pressure on prices across the state.
However, these gains come with challenges – particularly for first-home buyers. Affordability remains a key concern, especially in high-growth areas.
Rising property prices are being compounded by increased land valuations, with Brisbane land values up nearly 20 per cent in some suburbs.
Experts warn this is likely to lead to higher council rates and land tax notices for many property owners in the coming months.
In positive news for first-home buyers, the Queensland Government is introducing new incentives to make homeownership more accessible.
From May 1, first-home buyers who build or purchase a new home will pay no stamp duty.
This initiative is part of a broader push to give more Queenslanders a foothold in the property market.
Additionally, first-home buyers will now be permitted to rent out a room in their property while still retaining eligibility for the First Home Owner Grant.
Looking ahead, CoreLogic forecasts suggest Brisbane property prices could rise by a further 9-14 per cent this year alone.
