Brisbane buyers have more room to negotiate than they did earlier in 2026, but interstate professionals, including many recruited for infrastructure projects ahead of the 2032 Olympic and Paralympic Games, are keeping competition alive for the city's family homes, according to a local buyer's agent.
Jack Freestone (pictured), director of Buyer's Collective, said that before the budget almost every property drew three to six or more written offers, but a good property is now more likely to attract one to three.
"It's more of a normal market now," Freestone said.
Cotality estimates Brisbane home sales over the past three months were 27.2% lower than a year earlier, the steepest fall of any capital, while homes took a median 35 days to sell in the three months to August, up from 19 days, and the median vendor discount widened from 2.8% to 4.2%.
Buyers also have more choice, with SQM Research reporting Brisbane listings were 43.5% higher than a year earlier in September 2026, the biggest annual increase of any capital.
Freestone said the market was uneven, with move-in-ready family homes in strong school zones still attracting quick sales.
"A good property can still attract multiple offers, so going in too low can mean missing out altogether," he said.
Freestone said many of his interstate clients were relocating from Sydney, Melbourne, Adelaide, and Perth.
"There are a lot of people being recruited from interstate to come and work on government and infrastructure projects around Brisbane," he said.
Australian Bureau of Statistics figures show Queensland gained 14,718 people through net interstate migration in the year to March 2026, more than any other state, with Western Australia next at just over 10,000.
That inflow coincides with a construction surge, with Queensland's new home construction spending hitting a 52-year record of $20.3 billion over the past year, a result Primara Research linked partly to Brisbane's Olympic infrastructure build and interstate migration into the south-east.
Freestone said these buyers, who include young couples, working professionals, and families, mostly plan to stay long term. They're still a minority of buyers, but a visible presence in the market. Many earn above-average incomes and want well-located homes near schools, parks, shops, and the CBD, which are the same homes local owner-occupiers are chasing. Because distance makes attending inspections difficult, they are also more likely to use professional representation.
That demand is landing in a market that has cooled but still outperforms the two largest capitals. Cotality data shows Brisbane dwelling values fell 4.7% in the three months to September but were 5.9% higher than a year earlier. Over the same 12 months, values fell 7.0% in Sydney and 6.2% in Melbourne.
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