Statewide house and unit prices posted solid quarterly growth in early 2026
Queensland's residential property market recorded broad-based price growth in the March 2026 quarter, with the statewide median house price climbing 4.21% to $990,000 — a 15.7% increase over the year, while the statewide median unit price rose 4.81% over the quarter to $817,500, up 17.19% annually
According to data published by the Real Estate Institute of Queensland (REIQ), he median house price increased 3.18% over the quarter to $1.46 million in Brisbane, while units rose 6.67% to $880,000. Across Greater Brisbane, house prices rose 5.75% to $1.15 million and units increased 5.74% to $837,500.
Among the major Brisbane local government areas, Moreton Bay recorded the strongest quarterly house price growth at 5.3%, bringing its median to $1.053 million, while Ipswich led unit growth with a 7.42% rise to $709,000.
In tourism markets, Noosa posted the strongest quarterly house price growth, rising 8.39% to $1.68 million. The Gold Coast unit market gained 4.47% to $935,000, while Noosa units lifted 3.15% to approximately $1.23 million.
Regional Queensland also performed strongly on an annual basis, with Rockhampton and Toowoomba each recording 18.93% annual house price growth. Rockhampton led the state for annual unit price growth at 33.55%.
Despite these results, the REIQ cautioned that sentiment is shifting. "Up until the end of March, there were no obvious signs of a slowdown just yet – price growth has continued right across the board, and Queensland is outperforming many other parts of the country – but the mood in the market is becoming more cautious," said Antonia Mercorella (pictured right), chief executive officer at REIQ.
"We're seeing more fear and trepidation creep into decision-making – people are asking what comes next if they make a move, how much further borrowing costs could rise, and what broader economic pressures might mean for their household budget.
"Meanwhile, existing and prospective investors are still reeling from recent federal budget announcements proposing changes to negative gearing and capital gains tax reforms. These material and unexpected taxation changes have created nervousness amongst the investor community and anecdotal feedback is that investor confidence has taken a dent. This is creating a market that is still performing strongly on paper but is increasingly shaped by caution."
Mercorella acknowledged that the underlying drivers of demand remain in place. "Listings remain tight, new housing supply is still not where it needs to be, and Queensland's strong population growth continues to sustain demand," she said. "The question now is not whether Queensland property has proven to be strong, but how the market will handle the global and local headwinds on the horizon.
"Affordability constraints are deepening, consumer confidence has taken a hit, and that may start to moderate the pace of growth, even if supply pressures continue to place a floor under prices."
On housing supply, the REIQ noted that Queensland completed approximately 32,900 dwellings in the 12 months to December 2025, roughly 33% below its annual target of 49,300 homes under the National Housing Accord. Building approvals were tracking at 3,975 dwelling units in trend terms in March 2026, approximately 3% below a monthly target of around 4,100 dwellings. Elevated construction costs and capacity constraints continue to weigh on feasibility.
"Queensland has built a reputation for resilience over recent years, but resilience should not be mistaken for invincibility," Mercorella said. "If governments want to preserve a pathway to home ownership while maintaining a healthy property market, supply has to remain the priority.
"We need sustained action to boost housing delivery, improve productivity, and make it easier to bring the right mix of homes to market. Pathways to home ownership should be a focus but continued investor activity is also a key priority to ensure the rental population is catered for and rental prices are kept in check."
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