Queensland's property market has delivered one of the broadest-based price booms on record, with only nine of 683 suburbs and towns across the state recording a decline in median house or unit prices over the 12 months to March 2026, according to new Domain data.
That means 98.68% of Queensland markets grew in value — a figure that Domain chief residential economist Nicola Powell (pictured) says reflects something well beyond a Brisbane story.
"It demonstrates just how extremely broad-based price growth has been across Queensland, and it illustrates that demand hasn't been centralised in the city of Brisbane," Powell said. "This is interregional markets, particularly into south-east Queensland as a pocket, but there is statewide strength and demonstrates that remarkable resilience, I think, Queensland has seen overall."
The scale of that growth is visible in the headline numbers. Queensland's statewide median house price climbed 15.7% annually over the March 2026 quarter to $990,000, while the statewide unit median rose 17.19% over the year to $817,500, according to REIQ data. In Brisbane, the median house price reached $1.46 million after a 3.18% quarterly rise.
The handful of falls recorded were modest and concentrated at the premium end — ranging from just 0.6% to 4.4% — and every location that declined still posted substantial five-year gains. Bokarina and Chelmer each fell 4.4% over the year but are up 94.1% and 37.3% respectively over five years. Noosa Heads houses slipped 3.5% annually but remain 71.4% higher than five years ago.
The limited pockets of weakness are concentrated in high-value coastal and inner-city locations — parts of Noosa, Sunshine Coast hinterland, Hope Island, Sherwood, Chelmer, and Port Douglas. Local agents describe a mood of caution at the top end rather than a genuine downturn.
"Across the Sunshine Coast, there is still growth there, there's no question about that," said Brodie Rodgers, head of sales and chief auctioneer at Eastell and Co. "But it's just not accelerating at a pace compared to what it did, probably, say, six to 12 months ago. And that is obviously a little bit of uncertainty with the economy and interest rates and whatnot, but we're leaning into that. I think it's still a positive market."
At Noosa, constrained supply is providing a floor.
"Noosa has virtually no capacity to increase in size, every allotment is already built on and every site developed to its maximum potential," said Tom Offermann, principal at Tom Offermann Real Estate. "So, we have a fixed supply with consistent, if not growing, demand from people wanting to either live here full time or to enjoy the lifestyle during their holiday times and rent out at other times."
Powell attributes the state's underlying strength to a persistent supply-demand imbalance.
"The core thing for Queensland overall is a lack of supply and still strong population growth, which is supporting demand," she said. "So, we may see pockets and little areas start to fall, but I think that a broad-based decline is very much a question mark for south-east Queensland, in particular."
Growth is expected to moderate but not reverse. Powell anticipates that affordable price points will outperform premium markets as higher mortgage rates and changes to tax settings reshape borrowing capacity and buyer behaviour.
"We're expecting affordable areas to outperform premium areas, whether that's entry level house prices or units," she said. "Affordability is steering demand towards more budget-friendly locations, and expansion of home guarantee schemes [and] lower borrowing capacity is feeding into that.
“I think the strength is still there, but I do think that we'll see prices grow at a slower pace than they were."
More recent data suggests that moderation may already be under way. According to Equifax data, first-home buyer demand in Queensland fell 16.2% year-on-year in May — the steepest decline of any state — with every state and territory recording negative year-on-year mortgage demand for the first time in 2026.
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