Brief
Brisbane house prices tumble $66,000 in three months, ending four‑year boom
Domain data show a $66,000 plunge in Brisbane house values over three months, ending a near‑four‑year growth streak.
By Felo News Desk · Published
Brisbane’s property market saw its steepest quarterly decline on record, with the median house price dropping $66,000 – a 5.4% fall to $1.15 million in the September quarter – according to the Domain House Price Report released on Thursday.
What happened
The September‑quarter fall erased more than half of the $123,600 gain recorded over the previous nine months, ending a 14‑quarter growth run. Only Perth recorded a larger quarterly slide, with a 7.4% decline. Units in Brisbane performed better, rising 10.5% over the year despite a 3% quarterly dip.
What the reports add
While the overall market slipped, a handful of suburbs bucked the trend. In Loganlea‑Carbrook, house prices held steady at $950,000, and Springwood‑Kingston saw a modest 1.8% rise to $946,500. Inner‑city houses edged up 0.2% to $2,087,500. In the Redcliffe area, units rose 0.7% to $1,015,000, and Mount Gravatt units increased 0.4% to $870,500.
What was said
Domain’s chief residential economist Dr Nicola Powell told SMH, “The depth of the decline this quarter took my breath away, to be honest … and prices are going to fall again.” She added that affordability had finally become a constraint for buyers.
LJ Hooker Property Partners’ Kosma Comino said the Mount Gravatt and Sunnybank Hills markets were “holding but not holding” as low confidence spooked buyers and sellers. “Sellers are holding off because of the ‘doom and gloom’ and so we actually have a bit more of an undersupply issue in our area,” he said.
Comino expects prices to keep falling until Christmas, with a larger correction possible in early 2027 if further rate hikes occur. He warned, “It’s going to get rough,” but suggested a floor could be set once capital‑gains tax takes effect next year, estimating a worst‑case scenario of another 10% drop.
How it came about
The decline follows a series of interest‑rate hikes that have stretched affordability and prompted many investors to exit the market. Earlier Felo coverage linked similar pressures to price drops in Perth and across other Australian capitals, noting that higher borrowing costs and tax changes were key drivers.
Key facts
- Brisbane median house price fell 5.4% to $1.15 million in the September quarter (smh.com.au)
- The quarterly drop erased more than half of the $123,600 gain from the previous nine months (smh.com.au)
- Units rose 10.5% over the year despite a 3% quarterly decline (smh.com.au)
- Suburbs Loganlea‑Carbrook and Springwood‑Kingston saw price stability or modest gains (smh.com.au)
- Domain economist Dr Nicola Powell warned the decline could continue (smh.com.au)
Sources
- [1] smh.com.au — originally reported as “Brisbane property market: House prices fall, ending a three-year boom”
