Brisbane property market update, March 2026

Source: Cotality

The Reserve Bank of Australia (RBA) followed its February rate rise with a further 25 basis point increase in March, lifting the cash rate to 4.10 per cent, just 25 basis points below the recent cycle high. The RBA’s decision reflected inflationary pressures that have built significantly through the second half of 2025, with the Board signalling that inflation is expected to remain above target for some time and that risks are skewed toward higher inflation for longer. Adding to the difficult backdrop, the ANZ–Roy Morgan Weekly Consumer Confidence Index fell to its lowest reading on record in March, a level not seen since the series commenced in 1973, driven by anxiety over the Middle East conflict, rising energy costs, and the prospect of further rate increases.

These pressures have prompted SQM Research to revise its 2026 national housing forecasts sharply downward. Under its revised base case, weighted capital city price growth is forecast at just 0 per cent to +3 per cent for the year, down from the prior projection of +6 per cent to +10 per cent. In contrast to this, Brisbane is still expected to outperform the national average, rising between +7 per cent and +11 per cent, which is a downgrade from +10 per cent to +15 per cent as previously forecasted.

Source: SQM Research

Key drivers of the revision include energy price pass-through, limited wage growth amid AI-driven changes to labour demand, and broader affordability erosion. Potential government energy rebates may provide some offset, though SQM does not expect them to fully revive momentum. Perth, Darwin, Adelaide and Brisbane retain the strongest individual outlooks, whilst Sydney (forecast -6 per cent to -2 per cent) and Melbourne (-4 per cent to -1 per cent) face the sharpest headwinds from forecasted constraints.

According to Cotality data, auction clearance rates eased to an average of 65.55 per cent throughout March, down from February’s 70.4 per cent, though still higher than the same time last year. This softer result reflects a more cautious buyer mindset in response to rising interest rates, international uncertainty, higher living costs, and proposed policy changes around negative gearing and capital gains tax for property investors. From what our team observed at Brisbane auctions over the month, several properties that passed in still attracted multiple registered bidders. The issue was that bidding did not reach vendors’ price expectations, pointing to a widening gap between buyers and sellers rather than a lack of genuine interest. Private treaty remains Queensland’s dominant sales method, and passed-in properties frequently proceed to sell under that process.

Listing volumes across Brisbane remain close to historic lows, with total advertised stock approximately 21.9 per cent below year-ago levels, a stark contrast to Sydney and Melbourne, where volumes are more aligned with long-term averages. This structural undersupply, in place since 2020, continues to sustain competition for quality properties across Brisbane. Investors account for 40.1 per cent of Queensland finance commitments, whilst first home buyers – buoyed by October 2025 incentives – represent 27.3 per cent of commitments, up from 25.3 per cent in February, driving strong demand in the sub-$1 million bracket.

Source: Cotality

Brisbane dwelling values

Brisbane’s median dwelling value of $1,101,151 at the end of March represents monthly growth of 1.8 per cent, quarterly growth of 5.1 per cent and annual growth of 19.0 per cent. These are all improvements on February’s respective figures of 1.6 per cent, 4.8 per cent and 17.3 per cent. PropTrack’s independent Home Price Index confirmed positive monthly growth of 0.7 per cent for Brisbane in March, consistent with the Cotality trend.

Source: Cotality

Cotality’s stratified index for the three months to February 2026 shows Brisbane’s lower quartile dwellings rose 6.4 per cent, the middle 50 per cent gained 5.5 per cent, and the top quartile grew 3.4 per cent. This is a slight easing in the upper segment compared with the prior quarter’s 4.0 per cent, whilst the bottom and middle of the market have held firm. This pattern reflects serviceability constraints continuing to direct buyer demand toward more affordable price points, a trend reinforced by first home buyer activity below the $1 million mark across Brisbane.

Source: Cotality

Brisbane house values

The median house value in Greater Brisbane rose to $1,207,718 in March, from $1,175,981 in February. Monthly growth of 1.7 per cent is 0.2 percentage points above February’s 1.5 per cent. The quarterly gain improved to 4.9 per cent from 4.6 per cent, and annual growth of 18.5 per cent accelerated from 16.7 per cent the month prior, placing Brisbane second only to Perth nationally.

PropTrack reported house price growth of 0.6 per cent for March, suggesting a reacceleration from the prior month.