PropertyBiz Brisbane Property Market Update, October 2026

by Stephen McGee, Director, National Property Buyers Brisbane

Well, it seems the Reserve Bank by raising the CASH rate again has added even more pain than promise as we enter the 11th month of this not so welcome year in the propertysphere.

While the RBA maintains that squeezing disposable income is the “necessary medicine” required to break the back of inflation, it is undeniable that everyday property owners are bearing the brunt of the pain. The national value index (below) illustrates a downturn for a SEVENTH consecutive month but it’s the SHOCK factor that has everybody astonished and disillusioned with property at the moment because of the speed that the values fell. This has been the fastest downturn in 40 years and I for one have not witnessed a correction this rapid.  However, I want to share a perspective that only comes with time.

When I first discovered real estate as my true vocation back in 1998, the Brisbane market looked entirely different. The median house value was just $144,000, and annual growth was a modest 3%. But do you know what the cash rate was?  A decrease in January 1997 of 6% from A staggering 7.5%. So Back then, the barrier wasn’t the purchase price; it was the high cost of borrowing. Today, the equation has inverted: we are dealing with massive loan principals, even though the cash rate is lower than it was 30 years ago.

So every cycle has its unique mountain to climb. But if my three decades in this industry have taught me anything, it is this: THIS TOO SHALL PASS.

Prices: Brisbane Property values declined for the seventh consecutive month and has now fallen faster than Sydney in terms of a decline. Virtually every suburb across Brisbane, Perth & Adelaide has recorded a drop in values over the past three months.  The fast fall in values has been evidenced in Brisbane’s mutli tiered property markets with recent sales results indicating that there has certainly been a convergence across the markets. Upper quartile have experienced larger falls in values with lower quartiles values dropping at a slower rate. Buyer sentiment and sellers reset reluctance has also been evident in the auction clearance rates which was well under 50% of the clearance rate in the corresponding month last year. Buyers are well aware now that they do not need to be impulsive and can consider their next move more strategically. As affordability levels also governs the buyer landscape longer time is given to the property selection and appropriate price.

Supply: Cotality has reported that the national number of home sales over the past 3 months was estimated at being 23% lower than 12 months ago and Brisbane with a 29% decline in sales activity compared to 12 months ago. Conversely, there has been a rise in advertised stock levels but this paints a false picture. Properties are still staying on the market for a longer time period and are adding to the new supply of properties and resulting in inflating the listing numbers. The days on market is now sitting at 39 days, the highest since August 2020.

Rental Market: Capital Cities are showing an ease of the rental vacancy rate but Brisbane vacancy rates are still very tight @ 1% with rental yields sitting at a rate of 3.7%.

Forecast: OPPORTUNITY is knocking at the door.

Markets do not move in a straight line forever. We are currently navigating a classic market transition—runaway growth of the post-pandemic years cooling down, giving way to a more balanced, mature NORMAL market. History shows us that those who panic during transitions miss the big picture. Property is a long-game vocation. The noise of today’s interest rate cycles will eventually quiet down, but Brisbane’s fundamental appeal—our lifestyle, infrastructure, and growing population—is not going anywhere. Navigating this transition isn’t about waiting for the storm to pass; it’s about learning how to move forward safely within it. Whether you are a buyer trying to find your footing, or an owner looking to strategically position your asset, the right move right now requires patience, precise data, and a clear head.

You don’t have to figure it out alone. NPB QLD has guided clients through the high-rate environments, the Global Financial Crisis, and every property peak and trough in between. If you want to cut through the media headlines and talk about what this transition actually means for your specific property goals, my door is always open. 

Price Point, Property type, Suburb & Property attributes are all factors that would have to be considered more importantly now and will certainly influence a buyer’s decision of “what they buy” and “where”. These factors will also be applied by owner buyers and Investor buyers but from an investment buy perspective the other major factor has to be the Asset Selection. A property can still be an affordable property but it must still be a property with integrity in structure and must still be located in areas that the fundamentals are driven by owners.

Residential Property Market Aus Wide

  Source Cotality

MONTHLY

Sydney values dropped by -1.6% and Melbourne values dropped by -0.8% 

Brisbane values recording a -2.0% fall

Perth values recording a -1.7% fall

 ANNUALLY

Sydney values dropped by -9.6% and Melbourne values dropped by -7.6%

Brisbane values still recording a growth of 0.4%

Perth values still recording a growth of 3.9%

MEDIAN VALUE

Sydney still leads the way with a median value of $1,178,959

Brisbane again runner up with a median value of $1,018,401

Melbourne $773,027

Here’s What NPB Do Best

Few people understand that you make your money when you BUY a property NOT when you sell. As the cliché goes “buy the RIGHT property, in the RIGHT suburb at the RIGHT price”.

We take a look back in time at a property purchased by Steve for a client and demonstrate how the factors of TIME and GROWTH can increase your wealth as long as you get the above fundamentals RIGHT.

    A Wise Person once said..

           ” Never,never, never give in”

                                                            Winston Churchill