Broker discusses Queensland capital’s startling growth and the mounting risks of a generational divide
As any Brisbane native will attest, the Queensland capital has undergone a remarkable transformation in recent years.
Once considered Australia’s biggest country town, rapid population growth has led to large-scale developments in the business, entertainment and housing sectors.
Brisbane’s glow-up made the headlines earlier this month when the city officially entered the million-dollar club. Per Cotality’s Home Value Index, the median house value in Brisbane rose to $1,006,000 in May, before climbing $1,011,000 in June.
This milestone cemented Brisbane as the second-most expensive capital city market in the country, behind only Sydney.
Like most of Australia, Brisbane’s soaring house values have been driven by a significant imbalance between supply and demand.
Since the COVID era, domestic and international migrants have flocked to the Queensland capital, attracted by the quality of life on offer – from the endless white beaches of the Gold Coast and Sunshine Coast, to the year-round warm climate.
Between June 2020 and June 2024, Greater Brisbane’s population grew by 9.2%, adding 235,000 people – well above the national average. House values have soared by 76% over the same time period.
This rapid growth has led to mounting pressures for younger buyers who are finding it increasingly difficult to enter the market without family support, raising concerns over a generational divide in the property market.
Yet investor confidence remains strong and property prices show no signs of cooling.
MPA caught up with Jason Bush, finance manager at Brisbane-based brokerage Real Estate Investment Finance (REIF) to discuss these matters and more in the latest edition of MPA Pod
