Brisbane Property Prices Surge Amid Shrinking Supply

Since the onset of the pandemic, significant changes have emerged in Australia’s property market. Major cities, including Brisbane, have experienced price surges due to a decreasing supply of housing. The report from property data firm Cotality highlights this trend, emphasizing the direct correlation between housing supply and affordability.

Brisbane Property Prices Surge Amid Shrinking Supply

Brisbane’s median dwelling value has increased by an astounding 91% as the region continues to face a supply-demand imbalance. This situation has led to a highly competitive housing market, pushing values upward.

State Comparisons in Housing Growth

Victoria has witnessed substantial investment in new homes, completing one-third of all new dwellings in Australia from 2020 to September 2025. This is despite the state only accounting for 25% of the nation’s population growth during that time. In contrast, WA and Queensland have struggled with slower growth in housing supply.

• Victoria’s Growth: 33% of new homes completed
• WA’s Share: 9% of new dwellings
• Queensland Population Growth: Over 25% of Australia’s total
• Brisbane’s Value Growth: 91% increase in median property values

National Trends and External Comparisons

The national average for property price growth stands at 55%, with Victoria only increasing by 16%. Meanwhile, property values in Perth saw a remarkable rise of 92%, contributing to the observed market dynamics.

Economic experts like Peter Tulip note that the disparities in housing supply affect property pricing not only in Australia but in other countries, such as the US and New Zealand. For example, Auckland’s adjustments in zoning regulations led to a 4% increase in housing stock and a 28% reduction in rents. This suggests a direct link between housing supply and affordability.

Future Implications

Despite recent reforms aimed at increasing supply in NSW and Victoria, experts caution that it may still take several months for these changes to significantly impact the market. The ongoing legislative adjustments underscore the urgent need for consistent policy efforts to enhance housing availability.

As demand continues to outpace supply in Brisbane and other major capitals, the expectation is for continued price pressures in the housing market.