Qld property market continues to thrive ahead of the 2032 Olympics

REIQ CEO, Antonia Mercorella, said Queensland’s growth has been an exponential five-year transformation, with the state median dwellings on average doubling in value.

“Also, during this extraordinary period, around four years ago, our capital city was announced as the host of the Olympic Games – a milestone that begin building confidence in the capital and surrounds in the 2032 run up,” she said.

In March 2020, during the COVID-19 pandemic, Queensland’s median house price sat at $490,000 before growing exponentially to $790,000 in March 2025, representing a 61.22 per cent increase.

“Brisbane’s annual median house price has risen 72.86 per cent in five years, now sitting at $1.21 million – and surprisingly, that rate doesn’t even make the podium finish for growth,” Mercorella said.

“It’s regional Queensland markets that were once undervalued that have seen some of the most exceptional growth. For example, house prices in Bundaberg have doubled over five years (100 per cent), and Ipswich has seen a near doubling of its annual median price, up 96.95 per cent since March 2020.”

Houses

According to REIQ data, Queensland’s house market growth has been steady, accounting for an 11.27 per cent growth over the last 12 months to March 2025.

Over the March quarter, the regions continued to be the state’s top performers, with Townsville standing out with a robust quarterly growth of 5.77 per cent, pushing its median price to $595,500.

Toowoomba followed suit, rising 4.35 per cent to $683,500, Mackay saw a 4.17 per cent increase to $625,000, and Bundaberg climbed 3.42 per cent to $605,000.

Similarly, Ipswich rose by 1.24 per cent to $735,000, Logan surged by 0.57 per cent to $789,450, Moreton Bay saw a 0.32 per cent increase to $852,750, while Redland rose by 0.53 per cent to $950,000, all outpacing the capital.

Brisbane topped Queensland’s house sales this quarter with 2,832 deals, followed by Gold Coast (1,789), Moreton Bay (1,523), and the Sunshine Coast (1,266).

Median selling times also improved, with houses taking 21 days to be sold, which is two days faster than last year.

Rockhampton, Mackay, Gladstone, and Townsville remained hot markets with houses selling in under two weeks, while Noosa was the slowest at 47 days, but still showed improvement.

“This strong growth in traditionally slower-moving markets is a sign of Queensland’s expanding demand footprint and deeper decentralisation. This is being fuelled by both owner-occupiers and investors seeking value and growth opportunities,” Mercorella said.

Units

Mercorella said the sharp rise in house prices has made units a more attractive option for buyers seeking an affordable entry point into Queensland’s booming property market.

Unit values have surged over the last five years from $385,000 to $640,000, marking a 66.23 per cent jump.

“Similarly, for units, the unassuming areas on Brisbane’s outskirts of Ipswich and Logan LGAs have seen truly remarkable triple-digit growth of 103.75 per cent and 119.65 per cent respectively,” she said.

“Fraser Coast and Gladstone also recorded near-doubling of unit values.”

Mercorella said the Queensland unit market momentum was more substantial than houses, recording a 16.47 per cent growth since March 2024.

Across the state, Noosa remained Queensland’s most expensive unit market, surging 14.42 per cent to a median of $1.19 million over the March quarter.

Greater Brisbane’s unit market followed suit, rising by 4.45 per cent to $680,000, with Brisbane LGA recording a 2.17 per cent growth to $705,000.

Ipswich outperformed with a 10.35 per cent jump to $549,000, while Redland climbed 9.55 per cent to $720,000.

Brisbane led unit sales this quarter with 2,072 transactions, followed by Gold Coast (1,385), Sunshine Coast (425), and Moreton Bay (316).

Across the state, units sold on a median of 19 days, with Ipswich, Toowoomba, and Moreton Bay being the quickest, with median selling times of 13 to 14 days.

Mercorella said that while the median dwelling growth moderated over the quarter due to the hesitancy of buyers and sellers around the federal election, Queensland remained a strong investment state.

“Strong economic and demographic fundamentals underpin Queensland’s property performance, alongside slower than required dwelling construction, which means demand exceeds supply at prevailing prices, generating upward price pressure,” she said.

“Relative affordability, lifestyle appeal, demographic shifts, low unemployment (4.2 per cent seasonally adjusted in April 2025), and strong population growth are all additional factors buoying Queensland property.”

She said that while the state’s property market has performed strongly over the last five years and is expected to continue its growth, affordability issues have arisen as Brisbane is now the second most expensive capital city in Australia.

“This has been an incredibly steep growth trajectory, but it does go to show what difference a handful of years can make when it comes to getting your foot on the property ladder,” she said.

“While many property owners have benefited from this boom, there is no escaping the fact that a growing affordability issue has emerged. The pace at which prices have raced away has left many prospective buyers feeling left behind and locked out.”

Mercorella said that to ensure sustainable growth and future home ownership, housing policy must prioritise significantly increasing supply, overcoming construction costs, labour shortages, and land scarcity.

“We need consistent, long-term investment in driving housing supply, including structural reform and smarter financial incentives to drive productivity and delivery.”

“We need to pull every supply lever available – not just for this generation, but for the next. Every Queenslander should be able to aspire to home ownership,” Mercorella concluded.

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• Queensland property

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