Brisbane house prices set to surge beyond $1 million milestone
New figures show how much Brisbane house prices are set to jump by the end of the year – tipping figures into the seven-digit pricing territory.
Brisbane’s median house price is tipped to surge well beyond the $1 million mark, with prices predicted to soar by almost 10 percent by the end of 2026.
Financial comparison site Canstar expects the cost of buying a home in the city will increase by 9.7 percent this year, to an average price of $1.26 million.
That equates to a $54,919 rise in the median house price.
The latest Canstar report also found two cash rate hikes this year have dealt a $25,000 drop to borrowing power – with a single person earning the average full-time wage, able to potentially borrow $24,800 less from the bank as a result of the February and March Reserve Bank of Australia hikes.
But, if there are three more 0.25 cash rate hikes this year – as forecast by Westpac – this could see borrowing capacity shrink by a total of $58,700 this year, it warned.
| City | Median house price (today) | Estimated house price (end 2026) | Difference to today |
|---|---|---|---|
| Sydney | $1,601,782 | $1,599,643 | -$2,139 |
| Melbourne | $982,876 | $975,050 | -$7,826 |
| Brisbane | $1,207,718 | $1,262,637 | +$54,919 |
| Adelaide | $998,933 | $1,018,586 | +$19,653 |
| Perth | $1,062,538 | $1,114,107 | +$51,569 |
| Hobart | $790,566 | $795,157 | +$4,591 |
| Canberra | $1,048,285 | $1,049,324 | +$1,039 |
| Darwin | $732,035 | $768,721 | +$36,686 |
Canstar’s data insights director Sally Tindall said more rate hikes would “push some buyers to the sidelines, cooling demand in many previously hot property markets”.
“(The Brisbane market is) hurtling towards prices that are fast becoming unaffordable for people looking for four walls and a patch of grass,” she said.
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“The danger is, people will borrow to the limit, banking on prices continuing to climb. If circumstances change – whether that’s interest rates, job security or the economy – it could leave some households over exposed.”
On Friday, property data firm Cotality released figures that showed Brisbane is becoming more unaffordable faster than other Australian capital cities, as fewer new homes are built relative to population growth.
Queensland accounted for more than a quarter of Australia’s population growth, but less than one fifth of new dwelling supply.
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