Brisbane Home Values Fall 1.5%, the Sharpest Drop of Any Capital
Four months after its May peak, Brisbane is now 5.4% off the top, and the number of homes changing hands has fallen faster than anywhere else.
Brisbane dwelling values fell 1.5 per cent in September, the sharpest monthly decline of any capital city, according to Cotality’s Home Value Index released on 1 October. That edged out Sydney’s 1.4 per cent fall and took Brisbane’s quarterly decline to 4.7 per cent.
The national index fell 1.1 per cent, its sixth straight monthly decline, and is now 5.2 per cent below its March 2026 record.
Why it matters
Brisbane was the market that held up while Sydney and Melbourne turned. It is now falling faster than either. Values peaked in May 2026 and are 5.4 per cent below that high, per the index tables.
The more telling figure for agents and project marketers is turnover. Cotality estimates the volume of Brisbane home sales was 27.2 per cent lower than a year earlier, the sharpest drop of any capital. Fewer settled sales mean thinner comparable evidence for valuers, which matters to anyone trying to secure presales or finance against end values.
Cotality research director Tim Lawless said “97% of capital city suburbs were down in value over the three months to end of September”.
The numbers
From the 30 September index tables:
- Brisbane dwellings: -1.5 per cent for the month, -4.7 per cent for the quarter, +5.9 per cent over 12 months. Median $1,048,880.
- Brisbane houses: -1.5 per cent month, +5.3 per cent annual. Median $1,146,078.
- Brisbane units: -1.4 per cent month, +8.5 per cent annual. Median $834,627.
- Regional Queensland dwellings: -0.9 per cent month, +6.3 per cent annual.
- Rental vacancy: Brisbane at 2.1 per cent, against 2.0 per cent nationally.
Units are still outperforming houses on a 12-month view in Brisbane, a gap of more than three percentage points. Gross dwelling yields in Brisbane sit at 3.5 per cent.
What’s next
The September result was recorded before the full effect of the Reserve Bank’s 29 September increase to 4.60 per cent, which Cotality says will weigh on demand by cutting borrowing capacity. October’s index will be the first full month measured after the hike, and the RBA meets again on 2-3 November. For developers holding presale stock, the sales-volume line is the one to watch. See our coverage of the RBA decision and more Brisbane market data.
What we checked
What we checked ourselves, and where you can check it too.
- Public recordFrom the index tables: Brisbane units fell 1.4% in September but are still up 8.5% over 12 months, ahead of houses at 5.3%; Brisbane's dwelling median sits at $1,048,880, 5.4% below its May 2026 peak.View the record on discover.cotality.com