Queensland's property market delivered another quarter of broad-based price growth through the first three months of 2026, with house and unit medians rising across virtually every major region — strong asset values that are supporting borrowing capacity even as the economic environment becomes more complex.
The statewide median house price climbed 4.21% over the March quarter to $990,000, representing 15.7% annual growth. Units outpaced houses, with the statewide median rising 4.81% over the quarter to $817,500 and 17.19% over the year.
REIQ · Cotality Data · March 2026 Quarter
Median sales prices, quarterly and annual change by region
Source: Real Estate Institute of Queensland · Cotality Data
In Brisbane, the median house price reached $1.46 million after a 3.18% quarterly rise, while the Greater Brisbane median lifted 5.75% to $1.15 million. Units in Brisbane LGA jumped 6.67% to $880,000, with Ipswich leading the region on quarterly unit growth at 7.42% to $709,000.
Regional Queensland continued to outperform on annual growth, with Rockhampton and Toowoomba both recording 18.93% annual house price gains and Rockhampton posting an exceptional 33.55% annual increase in unit prices. In the tourism markets, Noosa surged 8.39% over the quarter for houses to $1.68 million, while the Gold Coast unit market rose 4.47% to $935,000.
The data tells one story — sentiment tells another.
REIQ CEO Antonia Mercorella said the mood had shifted noticeably despite the strong numbers.
"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," Mercorella said.
She pointed to multiple sources of uncertainty weighing on decision-making, including rising borrowing costs, global volatility, and the proposed federal budget changes to negative gearing and capital gains tax.
"These material and unexpected taxation changes have created nervousness amongst the investor community and anecdotal feedback is that investor confidence has taken a dent," Mercorella said.
Underneath the caution, the structural imbalance driving Queensland's market remains firmly in place.
Queensland completed approximately 32,900 dwellings in the 12 months to December 2025 — roughly 33% below the state's National Housing Accord target of around 49,300 homes per year. Building approvals in March 2026 were running 3% below monthly targets, with elevated construction costs continuing to constrain feasibility.
Mercorella was direct about what the data means for the market's trajectory.
"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," she said.
Selling conditions remain brisk, with the statewide median days on market holding at 21 days for houses and 18 days for units, suggesting demand is still absorbing available stock — but a client base growing more anxious about what comes next means brokers should expect more questions and more hesitation before commitment.
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