Brisbane's high-end residential market is poised to reach a new high in 2025. According to the latest PropTrack market trends report, the median house price has surpassed AU$2 million in 18 areas across the city, with five suburbs exceeding AU$3 million, indicating that Queensland's housing market is rapidly entering an era of high prices.
Compared to 2020 when only Teneriffe surpassed 2 million, the growth over the past five years reflects Brisbane's gradual rise to become one of the country's major high-end residential markets, driven by infrastructure investment, interstate migration, and pre-Olympic market sentiment.
The median price in the five most expensive residential areas has exceeded $3 million, with Teneriffe continuing to hold the top spot in the city.
Latest data shows that the median price in the following five regions has exceeded AU$3 million:
- Teneriffe: $3.5M (cumulative increase of 78.5% over five years)
- Chandler: $3.41M
- Burbank: $3.37M
- New Farm: 1TP 4T 3.05M
- Ascot: $3.02M
The price increases in Chandler and Burbank were particularly significant, benefiting from large tracts of low-density luxury residential land, rare transactions in recent years, and the continued influx of high-income families, which allowed prices to quickly catch up with traditional luxury residential areas in the short term.
With median prices around 2 million, demand is rapidly expanding in inner-city, riverside, and school district areas, where the strongest demand is seen.
Another noteworthy set of data is that 13 suburbs have successfully joined the "2 million club," including:
Hamilton ($2.65M), Hawthorne ($2.6M), Pullenvale ($2.23M),
St Lucia ($2.17M), Robertson ($2.13M), etc.
It's worth noting that the median apartment price in Tennyson has also exceeded $2 million, reflecting the popularity of high-quality, low-supply house-sized apartments along the river with families and downsizers, creating a rare "luxury apartment market" in Brisbane in recent years.
A sharp drop in supply and a rise in inquiries indicate that the luxury housing market is showing long-term support.
Matt Lancashire, chief analyst at Ray White New Farm, points out that the rise in luxury home sales is not a short-term fluctuation, but rather a result of changes in the supply and demand structure.
The number of new properties listed for sale with a price of over 4 million has decreased by approximately 50%
Buyer inquiries increased by 60%
Supply tightened significantly, and the return of interstate buyers and expats to the market led to continued rapid price increases in several high-price areas.
He stated, "What was considered 'expensive' five years ago is now seen as a normal entry-level price by buyers."
Riverside properties become "family heirlooms" as the Olympics and infrastructure projects inject continuous momentum into the market.
Experts point out that the scarcity of detached houses along the Brisbane River is driving prices up further.
She described it this way: "Riverside properties are considered legacy assets and are not easily released. If one does happen to appear on the market, it often immediately attracts the attention of buyers from across state lines and overseas."
She added that in recent years, many families and downsizers have turned to large, well-designed riverside apartments, hoping to enjoy the same quality of life with less maintenance costs.
Australian South Property's View: The market is showing a strong upward trend ahead of the Olympics, with the high-end market entering a phase of "structural upgrading."
According to ANP, the Brisbane luxury home market exhibits the following long-term trends:
- The completion of infrastructure projects before the Olympics (Cross River Rail, Brisbane Metro, Woolloongabba precinct) has driven a revaluation of the area.
- Buyers from Sydney and Melbourne are moving north in search of higher quality of life and more cost-effective luxury homes.
- There has been an increase in overseas buyers and returnees to Australia, including high-net-worth individuals from Hong Kong, Singapore, and North Asia.
- Supply has been consistently insufficient, especially for riverside mansions and detached houses in school districts.
As the market matures, Brisbane's standing with international buyers is rapidly rising, and it is expected to continue to be supported by demand over the next two to three years.
As a professional team with many years of experience in the Queensland real estate market, ANP continuously provides buyers and investors with robust, transparent, and forward-looking market analysis based on empirical data and local experience, assisting clients in making the most appropriate decisions in Brisbane's rapidly changing property market.
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