Brisbane buyer’s agent Lauren Jones shares expert insight into how buyers are reacting to the national median house price rise.

First published on January 16th, 2025, by Property Journalist Maria Gil. Click here to read original Domain article.

Alternatively, enjoy this short excerpt:

Five out of Australia’s eight capital cities will have a median house price of more than $1 million within a matter of weeks despite a national slowdown in the market, new data shows.

The latest Domain House Price Report, released on Thursday, shows Brisbane made house price history in the final quarter of 2024 when its median soared past the $1 million mark to $1,016,192.

Adelaide’s median house price, which rose by $25,000 over the quarter, now sits at $992,193 – just $7807 short of $1 million, and is expected to crack that figure within weeks.

Four years ago, Sydney was the only Australian capital city with a median house price of more than $1 million.

Now it’s possible Perth could join Sydney, Melbourne, Canberra, Brisbane and Adelaide by the end of 2025, according to the Domain report, which has forecast the West Australian capital will grow by another 8 to 10 per cent this year.

44 Wellington Street, Manly QLD 4179

Rising prices are not deterring buyers in Brisbane, according to buyer’s agent Lauren Jones.

“If anything, it probably gives people a little bit more confidence in Brisbane because people are starting to compare it more to Sydney and Melbourne,” she says. “It’s kind of gained that exclusivity, and I don’t think it’s gonna come off that.

58 Upper Landcaster Road, Ascot QLD 4007

“I went to some open homes on the weekend, and the open homes are packed again. We’re probably getting double the numbers that we were having in December,.”

Brisbane’s house prices have essentially doubled in the past five years, but Jones believes the rapid pace of growth will continue to slow down.