M:
Research
Spring/26 Brisbane Prestige Residential
Headlines Brisbane recorded a higher number of prestige residential sales over the past year, whilst homes are taking less time to sell than one year ago.
The number of residential rental homes in Brisbane is currently undersupplied. Brisbane rental vacancy was recorded at 0.9% at the end of Q2/26.
More Brisbane homes have been newly listed for sale than this time last year. Overall, the total number of homes listed for sale in Brisbane is up on last year.
Prestige residential rents across Brisbane trended 4.7% above last year's weekly rate, with prestige rents forecast to rise 4% at the end of 2026.
Brisbane prestige residential prices have trended 0.7% lower than a quarter ago, with 2.6% annual growth. Stable price change is forecast at the end of 2026.
The construction delivery of new homes in Queensland was 1.9% below a year ago, whilst the cost to build in Brisbane escalated 6.5%.
Economy Key drivers
Interest rate
Spring/26
4.35%
Interest rates were last set at 4.35% after the Reserve Bank of Australia (RBA) lifted the cash rate target by 25 bps in May 2026. At this time, most lenders adjusted their mortgage lending rates for homeowners and investors accordingly. By setting borrowing costs, interest rates strongly influence both housing affordability and demand for home loans. Westpac forecasts the cash rate target to be 4.60% by the end of 2026 and 4.10% in 2027, with inflation, energy costs and the global economy being closely monitored as a leading indicators for any possible adjustments during this time.
Stock market return
+2.1%
Economic growth
Australia recorded annual economic growth of 2.1% at the end of Q2/26, following a five year annual average performance of 2.2%. A growing economy fuels the property market by generating employment, lifting household incomes and strengthening overall demand. In general, sustainable annual economic growth is viewed as trending between 2% and 3%. Looking forward, Westpac forecasts economic growth of 1.5% by the end of 2026 and 1.7% in 2027.
+2.8%
Ultra-high-net-worth population growth
The stock market has returned sustainable annual growth. Australia’s stock market performance on the S&P/ASX 200 saw total growth of 2.8% over the past year, although the last quarter recorded growth of 3.5% in Q2/26. Looking back, the five year average return was 4.0%. Historically, strong stock market performance has been a leading indicator for future wealth creation and potential upside for prestige residential property, though current global uncertainty suggests a more cautious stance.
+12.2%
The ultra-high-net-worth (UHNW) population across Australia continues to expand despite the world adjusting to renewed, geopolitical uncertainty and ongoing inflationary pressures. Australia’s ultra-wealthy population grew by 32.5% between 2021 to 2026, to 16,460 people with net wealth of more than US$30 million. This population is forecast to grow by a further 58.5% by the end of 2031 (or an average 12.2% per year) when almost one in every thousand Australians will be considered an UHNW individual. According to the Knight Frank Wealth Sizing Model, Australia is considered to be the fifth fastest forecast during this time.
Economic outlook, Q2/26
2021
2022
2023
2024
2025
2026F
2027F
Interest rate target
0.10%
3.10%
4.35%
4.35%
3.60%
4.60%
4.10%
Economic growth in Australia
4.9%
3.3%
1.3%
1.2%
2.6%
1.5%
1.7%
Business investment in Australia
8.8%
6.2%
8.9%
0.4%
7.0%
4.3%
3.2%
Source: McGrath Research, Knight Frank Research, RBA, ABS, Westpac
2
Prestige residential sales Update
Prestige sales
Spring/26
+16%
Rolling tally of annual prestige residential sales Brisbane prestige ($3m+)
Brisbane recorded a slightly lower number of prestige residential sales above $3 million over the past year. Sales trended up 16% with a total of 677 transactions in the year ending Q2/26, outpacing the five year annual average of 461 sales. Sales activity tends to shift with interest rate movements and changes in economic confidence, whilst ongoing global uncertainty continues to influence decisionmaking. Isolating the 207 sales in the Q2/26 quarter, this was 28% above the previous quarter and higher than the 135 five year quarterly average.
Source: McGrath Research
Super-prestige sales
26%
The share of super-prestige sales (above $5 million) was recorded at 26%, after analysing the total number of prestige sales (above $3 million) across Brisbane in the year ending Q2/26. This was higher than one year ago when the proportion was 16% and above the 15% share recorded five years ago. Over the past year, Brisbane’s super-prestige sales volume rose by 87% and has grown by 729% over the past five years.
Share of super-prestige sales ($5m+), by number Brisbane prestige Source: McGrath Research
Brisbane prestige, Q2/26
Houses
Apartments
Residential
Number of homes ($3m+) sold in past quarter
185
22
207
Change from a quarter ago
32%
0%
28%
Number of homes ($3m+) sold in past year
596
81
677
Change from a year ago
17%
11%
16% Source: McGrath Research
3
Prestige residential sales Update
Sales velocity
Spring/26
-4 days
Average days on the market Brisbane prestige
Brisbane prestige homes are taking less time to sell than one year ago. Prestige homes across Brisbane averaged 27 days on market in the year ending Q2/26, from the time they were listed to the day they went under contract. This duration was 27 days a quarter ago (+0 days) and 31 days one year ago (-4 days). A lower number of days on market typically indicates that homes are selling more quickly, often reflecting strong buyer demand and well‑priced, desirable properties. In contrast, a higher number of days on market may signal slower buyer activity. Looking back over the five-year average, it has taken 32 days to sell a home.
Source: McGrath Research
New listings Brisbane
+0.8%
+23.2%
Total listings Brisbane
More Brisbane homes have been newly listed for sale than this time last year. Newly advertised listings in Brisbane were 0.8% higher in the month of June 2026 than the equivalent period last year, according to Cotality. This change in new listings trended below the Australian average of 2.1% and below the 2.0% across Australian capital cities.
Overall, the total number of homes listed for sale in Brisbane is up on last year. Brisbane's total number of listings in the month of June 2026 were 23.2% above the equivalent period last year, according to Cotality. By comparison, the Australian average change for total listings was 8.4% and across Australian capital cities was 15.9%.
Brisbane prestige, Q2/26
Houses
Apartments
Residential
Number of days homes on market
28 days
21 days
27 days
Change from a quarter ago
+1 day
-1 day
+0 days
Change from a year ago
-4 days
-2 days
-4 days Source: McGrath Research
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Prestige residential prices Update
Prestige prices
Spring/26
+2.6%
Tracking prestige prices Brisbane prestige
Brisbane residential property prices have trended higher than a year ago across the prestige market. Brisbane prestige property prices rose by 2.6% in the year ending Q2/26, although a fall of 0.7% was recorded in the last quarter. Looking back at price growth since Q2/21, prestige apartments (27.1%) outpaced prestige houses (14.9%) over the five years. In Q2/26, prestige house prices were 1.0% lower but were 2.1% above the previous year. In the same quarter, prestige apartment prices rose by 1.1% after rising 4.9% in the past year. Annual residential price growth has averaged 3.2% over the past five years.
Source: McGrath Research
Prestige price outlook
+0%
Forecast for prestige prices Brisbane prestige
Looking ahead, Brisbane residential prestige prices are likely to be stable over the coming year. McGrath Research forecasts Brisbane prestige residential prices to remain steady at the end of 2026, followed by a 2% rise in 2027. Factors taken into consideration include the projection of a challenged economy and business environment, a solid performing stock market, anticipated pressure on the interest rate target, as sales volume remain lowered.
Source: McGrath Research
Brisbane prestige, Q2/26
Houses
Apartments
Residential
Price change from a quarter ago
-1.0%
1.1%
-0.7%
Price change from a year ago
2.1%
4.9%
2.6% Source: McGrath Research
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Prestige residential rents Update
Prestige yield
Spring/26
+7 bps
Gross rental yield Brisbane prestige
Brisbane prestige gross rental yields have trended higher over the past year. Gross rental yields rose 6 bps in the Q2/26 quarter to be 3.05% across the Brisbane prestige market, whilst being 7 bps higher than a year ago. Gross rental yields are a good initial measure of comparing the return of a property investment before expenses are deducted. A yield greater than 3% tends to be considered most desirable for prestige properties located in capital cities, while below this, tends to indicate high property prices relative to rent, or low rental demand. Gross rental yields have averaged 2.84% over the past five years.
Source: McGrath Research
Vacancy
0.9%
Residential rental vacancy Brisbane
The number of residential rental homes in Brisbane is currently undersupplied. Brisbane rental vacancy was recorded at 0.9% at the end of Q2/26, rising 20 bps in the quarter whilst falling 10 bps over the past year according to REIA. Generally, around 3% vacancy is considered a balanced market between rental supply and demand. Below this equilibrium is considered to be an undersupplied pool of rental homes, which places upward pressure on weekly rents. For the past five years, Brisbane residential rental vacancy has averaged 1.1%.
Source: McGrath Research, REIA
Brisbane prestige, Q2/26
Houses
Apartments
Residential
Gross rental yield
3.06%
3.02%
3.05%
Change from a quarter ago
+7 bps
+0 bps
+6 bps
Change from a year ago
+6 bps
+11 bps
+7 bps Source: McGrath Research
6
Prestige residential rents Update
Prestige rents
Spring/26
+4.7%
Tracking prestige rents Brisbane prestige
Residential rents across Brisbane trended above the weekly prestige rate recorded a year ago. Brisbane prestige property rents rose by 4.7% in the year ending Q2/26, with a rise of 1.1% recorded in the last quarter. Looking back at rental growth over the five years since Q2/21, prestige apartments (58.2%) outpaced prestige houses (44.7%). Prestige apartment rents in Q2/26 were 1.0% above a quarter ago, and were 8.8% higher over the year. In the same quarter, prestige house rents rose by 1.1% after rising 3.7% over the past year. On average, in the past five years, prestige rents grew 8.1% per year.
Source: McGrath Research
Prestige rental outlook
+4%
Forecast for prestige rents Brisbane prestige
The Brisbane prestige residential market is continuing to experience upward pressure on weekly rents. Only a modest number of new homes have been built in Brisbane, reducing the share of prestige rental homes available as the city continues to attract the ultra wealthy population. As a result, McGrath Research forecast there will remain upward pressure on rents of 4% at the end of 2026, with a further 3% rental growth likely in 2027.
Source: McGrath Research
Brisbane prestige, Q2/26
Houses
Apartments
Residential
Rental change from a quarter ago
1.1%
1.0%
1.1%
Rental change from a year ago
3.7%
8.8%
4.7% Source: McGrath Research
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Definitions
Prestige property The most desirable and most expensive property in a given location, generally defined as the top 5% of each market, by value. Prestige sales Brisbane prestige sale transactions hold a threshold of A$3 million. Super-prestige sales Brisbane super-prestige sale transactions hold a threshold of A$5 million. UHNWI An ultra-high-net-worth individual (UHNWI) is someone with a net worth of US$30 million or more.
Guiding you home
Michelle Ciesielski National Head of Research, McGrath Research www.mcgrath.com.au/research
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