I have been saying this for a while now: Brisbane’s median house price will crack $1 million soon. Now, the property forecasting experts at Domain have publicly confirmed this prediction.

Brisbane’s capital growth was a long time coming with events happening that did not allow the market to take off when it should have. Back in 2019 the market was ready for a significant increase, but the bank royal commission happened and the market didn’t move. It wasn’t until the release of low interest rates in 2020 and 2022 did that market manage to gather momentum and now it is unstoppable.

Last year more than 20 Brisbane suburbs has a median house price of over $1 million. Now it is predicted that the overall city median should reach over $1 million by 2025.

What is driving the Brisbane market?

As I always say – Demand vs Supply is what drives the value of any asset and this is not different with property.

Demand is being created by population growth which is turn being driven by:

  • Jobs growth for large infrastructure project taking place and planning in Brisbane
  • Olympic Games excitement
  • Just generally people mowing to QLD due to great lifestyle and affordability

Supply is very low because the local council are not committed to helping Australians get housing and are more concerned with their own individual job security.

The supply and demand issue is just getting worse so it is easy to see why prices will continue to rise.