Melinda Jennison
Introduction
The Brisbane property market continued its strong momentum in September 2025, with values rising across both houses and units, supported by heightened buyer activity and persistently tight supply. According to Cotality, Brisbane dwelling values lifted by 1.2% in September, taking quarterly growth to 3.5% and annual growth to 8.8%. This mirrors August’s growth rate but demonstrates acceleration in the quarterly and yearly figures, cementing Brisbane’s position as one of the country’s leading capital city markets for value growth.
Compared with other capitals, Brisbane continues to stand out. While most cities have seen detached houses outperform units in 2025, Brisbane has bucked the trend for the seventh consecutive quarter, with units surging 1.7% in September compared to 1.1% growth for houses. This affordability-driven divergence is a clear marker of demand shifting toward more accessible price points, especially in inner and middle-ring suburbs.
Buyer urgency intensified throughout September in the sub-$1 million market segment. This was largely spurred by the Federal Government’s decision to bring forward the First Home Buyer Guarantee Scheme from January 2026 to 1 October 2025. The scheme enables eligible purchasers to buy with just a 5% deposit without paying lenders mortgage insurance (LMI), significantly reducing the upfront barrier to entry. Anticipating heightened competition once the scheme commenced, many buyers accelerated their purchasing timelines, creating frenzied conditions in affordable brackets. Price jumps in some unit and townhouse markets under $1 million were evident in the last 4–5 weeks as buyers competed fiercely for limited stock.
Importantly, while this scheme will support demand, it may also influence the Reserve Bank’s monetary policy decisions. With the cash rate held steady in September following the August cut, the stimulatory effect of the scheme could delay further rate reductions if housing demand and inflationary pressures accelerate in the coming months.
Economic fundamentals remain broadly supportive. Consumer sentiment rose again in September, with the Westpac-Melbourne Institute Index 12.8% higher than a year earlier. Real wages growth hit 1.3% annually, the strongest level since mid-2020, and the labour market remains tight, with unemployment steady at 4.2%. Economic growth also surprised to the upside in the June quarter, with household consumption up 2% year-on-year against the RBA’s 1.5% forecast. Together, these conditions underpin strong ongoing housing demand while reducing the likelihood of further near-term cash rate relief.
In Brisbane specifically, supply remains the greatest challenge. At the end of September, total advertised listings were around 31% below the long-term average. Sales volumes, however, continue to track above average, highlighting the demand-supply imbalance driving upward price pressure. Days on market shortened further to 22 days, down from 23 in August, with quicker sales concentrated in the affordable price brackets.
The prestige market also remains strong, particularly in Brisbane’s riverfront and blue-chip inner suburbs. According to the Prestige Property Report – Spring Edition 2025, downsizer demand, interstate migration, and limited premium stock have kept activity buoyant despite affordability pressures at the broader market level.
Brisbane Dwelling Values
Brisbane’s median dwelling value reached $969,868 in September, reflecting monthly growth of 1.2%, quarterly growth of 3.5%, and annual growth of 8.8%.
Compared nationally, Brisbane continues to outperform Sydney (0.8% monthly, 3% annual) and Melbourne (0.5% monthly, 1.9% annual).
Source: Cotality
Stratified analysis shows that growth is strongest at the lower quartile, in line with Perth and Adelaide, highlighting affordability-led demand. In contrast, Sydney and Melbourne’s growth is concentrated in the mid-market segments.
Source: Cotality
Brisbane House Values
House values rose by 1.1% in September, taking quarterly growth to 3.3% and annual growth to 8.1%, with a new median of $1,062,109. This represents a slowdown in monthly price growth from August, when house prices rose 1.2% monthly, although both quarterly and annual house price growth is continuing to accelerate.
While still showing strong growth, Brisbane’s house market is being outpaced by units, reflecting affordability constraints and competition from first-home buyers entering at lower price points. By contrast, Perth and Adelaide continue to post stronger detached house growth relative to units, underscoring Brisbane’s unique market dynamic.
Proptrack data also confirms Brisbane house values rose 0.3% in September, consistent with Cotality’s reported growth.
Source: Cotality
Brisbane Unit Values
Brisbane’s unit market remains the standout performer, recording 1.7% growth in September, up from 1.3% in August. Quarterly growth for units hit 4.7%, and annual growth surged to 12.4%, with the median unit value now sitting at $755,087.
By comparison, August recorded a median unit value of $740,992, with quarterly growth of 3.9% and annual growth of 11.1%.
Proptrack’s data mirrors this trend, reporting 0.9% unit price growth in September, reinforcing the narrative that units are the most in-demand dwelling type in Brisbane. Affordability, investor appetite, and ongoing supply shortages in the inner and middle-ring suburbs continue to underpin this strength.
Source: Cotality
Brisbane’s Rental Market
Brisbane’s rental market remains extremely tight, with the vacancy rate edging up slightly to 1.0% in September from 0.9% in August.
Rental growth accelerated again, with house rents up 5.4% annually (up from 5.0% in August) and unit rents up 6.4% annually (up from 6.2%). This reflects a reacceleration in rent growth for both property types.
Gross yields remain steady for houses at 3.4%, but declined slightly for units to 4.3% (from 4.4% in August). This modest decline reflects faster price growth relative to rents in the unit sector.
With affordability constraints pushing buyers toward units, and tenants facing accelerating rents in this segment, conditions remain particularly competitive for investors targeting high-yielding unit stock.
Source: Cotality
Summary
September 2025 confirmed Brisbane’s status as one of the strongest capital city markets in Australia. All dwelling values grew for the month, supported by heightened buyer demand and restricted supply. Units continue to outperform houses, with affordability pressures and government incentives fuelling demand at the lower end of the market.
With the First Home Buyer Guarantee Scheme, now in effect, changes are expected to sustain this momentum. This is particularly so in the sub-$1 million segment, although they may temper the pace of further RBA rate cuts if demand surges further.
Rental markets remain undersupplied, with vacancy rates near record lows and rents accelerating for both houses and units. Yields are steady to slightly lower, reflecting ongoing capital growth.
Looking ahead, the spring selling season is poised to be competitive. Vendors are in the driver’s seat, with multiple offers and quick sales commonplace. For buyers, the cost of waiting is tangible. At current growth rates, a $1 million purchase today could be $12,000 more expensive in just one month.
For investors and homebuyers alike, Brisbane remains a market where decisive action, backed by sound strategy, is critical.
We hope that you have found our Brisbane Property Market Update September 2025 helpful.
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Read the Brisbane Property Market Update August 2025