Brisbane hits $1m median – How we got here and what’s next

Brisbane hits $1m median – How we got here and what’s next

Brisbane has officially joined the million-dollar club. According to CoreLogic data, the city’s median house price hit $1,011,000 in May 2025, marking a major milestone and reshaping how we think about affordability, growth, and opportunity in South-East Queensland.

But how did we get here – and what happens next for buyers and investors?

Let’s unpack the factors behind this record-breaking shift and explore why Brisbane’s property market is still worth watching.

Brisbane House Prices: From Affordable to Million-Dollar Status

In just five years, Brisbane’s median house price surged by more than 76%, climbing from $558,000 in June 2020 to over $1 million by mid-2025.

That’s a faster growth rate than both Sydney and Melbourne over the same period.

What drove it?

– Post-pandemic migration from southern states

– Tight housing supply and record-low vacancy rates

– Strong demand for detached homes, especially in lifestyle suburbs

– Major infrastructure upgrades ahead of the Brisbane 2032 Olympics

While other capital cities have seen mixed results, Brisbane’s steady growth has been supported by genuine demand and long-term livability.

Population Growth Fuelling Property Pressure

Between June 2020 and June 2024, Greater Brisbane’s population jumped by 9.2%, adding around 235,000 people. That’s the equivalent of a new suburb every few months.

And it hasn’t all been overseas migration. Much of the growth has come from:

– Interstate relocations, especially from Sydney and Melbourne

– Young families seeking more space and better lifestyle options

– Regional moves into Brisbane’s urban fringe

The challenge? Housing supply hasn’t kept up. New builds and land releases remain limited, especially in the inner and middle rings. This imbalance between supply and demand continues to push prices upward.

Infrastructure Investment and the Olympic Effect

Brisbane’s upcoming 2032 Olympic Games are fast-tracking major infrastructure projects, many of which are already underway.

These include:

– Cross River Rail and Brisbane Metro

– Road, station, and active transport upgrades

– Urban renewal in precincts like Woolloongabba and Albion

– Investment in schools, healthcare, and regional development

The result? Suburbs that were once overlooked are gaining traction, with improved access, increased amenities, and growing appeal to families and professionals.

If you’re looking for long-term capital growth, infrastructure can be one of the most reliable indicators of future value.

Affordability Has Shifted

For years, Brisbane was the “affordable” capital city alternative. That’s changing.

– Over half of Brisbane’s suburbs now have median house prices above $1 million

– First-home buyers are being priced out of many traditionally popular areas

– Buyers are widening their search to outer suburbs, townhouses, or units

At the same time, investors are recalibrating – looking at rental yield, vacancy rates, and potential for growth in emerging pockets.

The good news? Opportunities still exist, especially for those who are flexible, informed, and focused on long-term outcomes.

What Buyers and Investors Should Be Thinking About Now

If you’re entering or re-entering the Brisbane market in 2025, here’s what to keep in mind:

For Buyers:

– Get clear on your budget and lifestyle priorities

– Explore up-and-coming suburbs with strong local infrastructure

– Be open to alternative housing options like townhouses or duplexes

For Investors:

– Focus on low-vacancy suburbs with strong tenant demand

– Review yield potential in light of higher entry prices

– Consider capital growth triggers like infrastructure, schools, and proximity to jobs

What Comes Next?

Brisbane’s $1 million milestone is more than a headline – it’s a sign of how far the market has come, and how much potential still lies ahead.

Whether you’re buying, investing, or simply staying informed, it helps to have the right people by your side. Our team is proud to be part of this community and here to support your next move – whatever that looks like.

Chat with someone who knows your neighbourhood.

Reach out when you’re ready – we’re here to help you move forward with clarity.