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Sentiment rises in Brisbane’s and Adelaide’s prestige property markets
New data showed that sentiment in Brisbane’s and Adelaide’s high-end markets has been surging while Melbourne and Sydney has returned to a more balanced state in February 2026.
According to the Herron Todd White Prestige Property Monitor report, the Herron Todd White Prestige Index reading for the nation was 6.6 out of 10, indicating a “Warm” broader market.
Brisbane and Adelaide led the nation with “Hot” sentiment scores of 8, while, contrastingly, Sydney and Melbourne recorded “Balanced” readings of 5.
According to the report, Perth was considered “Warm” at 7.
Herron Todd White’s managing director, residential, Drew Hendrey, said the data showed a shift in the dynamics of Australia’s high-end property market.
He said Brisbane and Adelaide’s prestige markets were seeing a boost in confidence, while Sydney and Melbourne were facing economic uncertainty and affordability pressures.
“This reflects a broader trend of population shifts and a re-evaluation of lifestyle and value by high-net-worth buyers,” he said.
According to the findings, Brisbane had experienced strong buyer demand for high-quality, architecturally designed modern homes.
Hendrey said that in the River City, there was a strong demand for premium properties, keeping the market particularly buoyant.
He said Adelaide was also a standout for local and interstate buyers seeking relative value compared to the larger capital cities.
“Adelaide is increasingly being recognised as a prestige destination, and we expect to see this trend continue as more high-quality stock comes to market,” he said.
According to Hendrey, Sydney saw a subdued start to 2026, amid a drop in listings and sales above the $15 million mark compared to previous years.
“The first half of 2026 is expected to remain subdued in Sydney’s lower-end prestige market in the $5 million to $10 million bracket, as high inflation and interest rates bite,” he said.
Hendrey also said that, in Melbourne, there was pessimism about state property taxes and land tax obligations, which had tempered sentiment and transaction volumes.
“Perth remains a strong market, with firming conditions driven by high demand and a chronic under-supply of premium properties,” the report concluded.