‘Unbelievable’: Brisbane house prices spike $3800 a week to new record

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Brisbane’s property boom has belted out one of its most jaw-dropping quarters yet, with unit prices surging almost $60,000 in just three months – close to what many workers earn in a year – as the city’s affordability ladder continues to snap rung by rung.

Brisbane’s median unit price rocketed 8.1 per cent over the December quarter to a record $770,471, Domain’s latest House Price Report, released on Thursday, shows.

Brisbane’s median house price climbed $50,000 or 4.5 per cent in only three months to $1,171,237, delivering a “lottery win” for some owners and a slammed door for would-be buyers and renters struggling to keep up.

The city’s typical house recorded a gain of more than $3800 a week over the last quarter of 2025.

Intense competition at the affordable end of the market fuelled the jump as first home buyers armed with government support collided with investors and a severe lack of listings, pushing prices higher while narrowing the gap between unit and house prices to a five-year low.

“It is just unbelievable. Brisbane is still one of the standout markets nationally and units are doing the heavy lifting because that’s where buyers can still afford to play,” said Domain chief of research and economics Dr Nicola Powell.

“But this data also shows such a structural change. It has stretched buyers’ ability to purchase.

“You have a capital city that’s seen an excess of 80 per cent growth in five years for houses and units and that means there is a whole cohort of Australians left behind because no one has seen their wages increase that much.

“But the flip-side is this offers an extraordinary win for those in the market. It’s like a lottery win.”

Brisbane is now down to just one suburb left below the $500,000 mark – Russell Island.

Five years ago, Brisbane’s median unit price was just over $418,000 and the house median was just over $628,000.

Powell said rising investor activity, worsening affordability in detached housing and the Australian Government 5% Deposit scheme added fuel to the fire, with interest rate cuts and chronically low stock amplifying the surge.

“We can’t underestimate the impact of the expanded home loan guarantee scheme,” she said.

“It probably sparked a wave of investors as well who were all trying to get in before the first home buyers.”

While Powell expects predicted rate rises to cool momentum, she said the budget end of Brisbane’s market would remain the standout performer.

At a suburb level, Domain data showed units dominated Greater Brisbane’s strongest growth pockets, led by Alderley, where the median jumped 30.1 per cent to $803,000.

Stafford followed with a 28.3 per cent lift to $730,000, while Newstead units climbed 28.2 per cent to $870,000.

Houses told a different story. Ipswich suburbs led the charge, including North Booval, where medians rose 25.9 per cent to $670,000.

Closer to the city, the flood-plagued suburb of Yeronga posted the biggest leap, with house prices jumping 24.2 per cent to $1,657,500.

At the prestige end, blue-chip riverfront suburbs jumped. Hawthorne houses surged 20.4 per cent to $2.4 million, while New Farm climbed 17.9 per cent to $3.3 million.

Place New Farm principal Sarah Hackett said a drop in stock, soaring demand and a construction backlog underpinned the performance.

“Our team handled eight sales that were suburb records and one of those was in Carina,” she said.

“It was a 26-year-old renovated home at 10 Pine Mountain Court with a significant view. We got six offers in 10 days, and it could have gotten another six.” It sold for $6.15 million.

”We also sold three properties over $20 million last year … It’s amazing how many high-net-worth people are moving from interstate and overseas right now. I think with the Games coming, there’s a lot of senior jobs becoming available – particularly in the construction sector.”

At the lower end of the market, Logan’s suburbs outperformed inner pedigree burbs. Woodridge posted the strongest five-year growth in the city, soaring 203.8 per cent to $607,500.

NGU’s Rebecca Cuderman said the 5% deposit scheme and an investor pivot sparked the boom.

“The first home buyer grant changed everything – even before it officially came in,” she said.

“Prices jumped $30,000 more after they first announced it.

“Townhouses saw our biggest jump … and in Woodridge, that big jump over the past five years is thanks to those old villas.

“Back then, they were no one’s cup of tea. No one wanted them and you could buy one for $120,000. Now they’re selling for $600,000.”

Cuderman said rapid gentrification driven by transport access and affordability spillover had reshaped the suburb, with owner-occupiers increasingly outmuscling investors.

“A lot of what was sold was from investors exiting the market but those that are buying are families.”