Brisbane Property Market Update, November 2026: Values Fall 2% as Rates Rise Again
By Tim AllenBuyer’s Agent and Director, IPS Buyer’s Agents
Our Brisbane property market update for November 2026 starts with a further fall. Cotality’s Home Value Index shows Brisbane dwelling values down 2.0% in October, the largest monthly fall of any capital city, and down 6.1% over the past three months.[1] Values are now 8.3% below their May 2026 peak, and the median Brisbane dwelling value is $1,018,401.[2] Then, on 3 November, the Reserve Bank raised the cash rate for the fifth time this year, to 4.85%.[3][4]
Each month we bring together the latest values, sales, rents, vacancy and interest rates, each with its source and date, and what they mean if you are buying. For why the market turned this year, see our Queensland property market update for winter 2026, and for the longer view, our SEQ property market update from autumn 2026.
Key takeaways
- Brisbane dwelling values fell 2.0% in October and 6.1% over three months. They are 8.3% below the May 2026 peak but still 0.4% higher than a year ago.[2]
- Fewer homes are selling: Brisbane sales over the past three months were an estimated 29% lower than a year earlier.[1]
- The Reserve Bank lifted the cash rate by 0.25 percentage points to 4.85% on 3 November 2026.[4]
- Rents are still rising, by 6.7% for houses and 6.1% for units over the year,[2] and Brisbane’s vacancy rate was 1.0% in the September quarter.[5]
- Across the capital cities, listings are at their highest for this time of year since 2019 and vendor discounts are the largest since May 2019, so buyers have more choice and more room to negotiate.[1]
Brisbane at a glance: November 2026
Cotality’s Brisbane figures cover Greater Brisbane, which in its regional tables includes Ipswich, Logan and Moreton Bay.[2] Values and rents are to the end of October 2026.
| Measure | Latest figure | Source |
|---|---|---|
| Dwelling values, October | Down 2.0% | Cotality[2] |
| Dwelling values, past three months | Down 6.1% | Cotality[2] |
| Dwelling values, past 12 months | Up 0.4% | Cotality[2] |
| Fall from the May 2026 peak | 8.3% | Cotality[2] |
| Median dwelling value | $1,018,401 | Cotality[2] |
| Median house value | $1,111,530 | Cotality[2] |
| Median unit value | $811,084 | Cotality[2] |
| Home sales, past three months, against a year earlier | Down an estimated 29% | Cotality[1] |
| House rents, past 12 months | Up 6.7% | Cotality[2] |
| Unit rents, past 12 months | Up 6.1% | Cotality[2] |
| Gross rental yield, all dwellings | 3.7% | Cotality[2] |
| Rental vacancy rate, September 2026 quarter | 1.0% | REIQ[5] |
| Cash rate target, from 3 November 2026 | 4.85% | Reserve Bank[4] |
Values: October’s fall and the year so far
Houses and units both fell in October, but units have held up better over the year:[2]
| Brisbane, to 31 October 2026[2] | Houses | Units |
|---|---|---|
| October | Down 2.0% | Down 1.7% |
| Past three months | Down 6.2% | Down 5.6% |
| Year to date | Down 3.6% | Down 0.4% |
| Past 12 months | Down 0.2% | Up 3.4% |
| Median value | $1,111,530 | $811,084 |
| Gross rental yield | 3.5% | 4.3% |
Brisbane and Perth have overtaken Sydney as the capitals with the fastest falls, and Cotality found that virtually every suburb across Brisbane, Perth and Adelaide recorded a drop in values over the past three months.[1] Nationally, values fell 1.2% in October, the seventh monthly fall in a row, and are 6.7% below their March peak.[1]
The fall comes after a long rise. Even after dropping 8.3% from their May peak, Brisbane dwelling values are 46.1% higher than five years ago and 98.2% higher than ten years ago.[2] Cotality notes that, given the size of the upswing, most homeowners in the mid-sized capitals are likely to have a significant equity buffer.[1]
Outside Greater Brisbane the picture is milder. Cotality’s broader Brisbane index, which includes the Gold Coast, fell 1.8% in October and is up 0.5% over the year.[6] Values across the rest of Queensland fell 0.9% in October and are 3.5% higher than a year ago.[2] Our guides to the Gold Coast and Sunshine Coast property markets cover those areas in more detail.
These are Cotality’s ten areas of Greater Brisbane (ABS SA3 regions) with the strongest growth in dwelling values over the year to October 2026:[2]
| Area (SA3)[2] | Part of | Median value | Change over 12 months |
|---|---|---|---|
| Ipswich Hinterland | Ipswich | $889,587 | Up 7.9% |
| Sherwood – Indooroopilly | Brisbane West | $1,181,587 | Up 3.8% |
| Redcliffe | Moreton Bay North | $1,008,050 | Up 3.6% |
| Narangba – Burpengary | Moreton Bay North | $958,206 | Up 3.5% |
| Caboolture | Moreton Bay North | $872,944 | Up 3.1% |
| Beaudesert | Logan – Beaudesert | $834,418 | Up 3.0% |
| The Hills District | Moreton Bay South | $1,227,956 | Up 3.0% |
| Ipswich Inner | Ipswich | $830,555 | Up 2.8% |
| Loganlea – Carbrook | Logan – Beaudesert | $937,007 | Up 2.6% |
| Beenleigh | Logan – Beaudesert | $841,974 | Up 2.6% |
Eight of the ten are in Ipswich, Moreton Bay North and Logan, and all eight have median values below Brisbane’s overall median of $1,018,401.[2] These are 12-month figures: over the past three months, values fell in virtually every Brisbane suburb.[1] For suburb-level detail, see our suburb reports for Redcliffe, Narangba, Burpengary, Caboolture and Beenleigh, and our guides to the Ipswich and Moreton Bay property markets.
Fewer homes are changing hands. Cotality estimates that Brisbane home sales over the past three months were 29% lower than a year earlier, the second-largest fall among the capitals after Sydney’s 30%.[1] Across the combined capital cities:
- auction clearance rates are consistently below 50%[1]
- the median time on market is 39 days, the longest since August 2020[1]
- the average vendor discount is 4.7%, the largest since May 2019[1]
- listings are at their highest level for this time of year since 2019, even though fresh listings are running almost 18% below average.[1]
Homes are taking longer to sell, so stock is building up. Cotality’s research director, Tim Lawless, said buyers now have more stock to choose from, more leverage and less urgency than a year ago, but that many are holding back because of low confidence and tighter serviceability.[1]
On 3 November 2026 the Reserve Bank’s Monetary Policy Board raised the cash rate target by 0.25 percentage points to 4.85%. The decision was by majority: six members voted for the rise and three to hold the rate at 4.60%.[4] It was the fifth rise this year, after February, March, May and September.[3]
The Board said inflation remains elevated and broadly based. It now expects inflation to stay above 3% over the coming year and not to reach the top of its 2–3% target range until late 2027. It also noted that housing prices have fallen significantly and the unemployment rate has risen.[4] Before the decision, Cotality reported that annual headline inflation had risen to 4.3% in September and that unemployment had reached 4.7% in September, its highest since 2021.[2]
What the rises mean for borrowers:
- Repayments. The REIQ estimated that September’s rise alone added about $116 a month to the repayments on a $750,000 loan, around the average new owner-occupier loan in Queensland, and that the four rises to September added about $458 a month.[3]
- Borrowing power. The REIQ estimated those four rises cut borrowing capacity by about $49,000 for a single buyer on Queensland’s average full-time income of $106,100, and by about $71,000 for a dual-income household.[3]
- The rate you pay. Cotality calculated that a November rise would take the average variable rate for owner-occupiers to around 6.7%, and would mean borrowing capacity had fallen by around 11.5%, or more than $105,000, over the cycle so far.[2]
If you are buying, check your pre-approval against the new rate before you make an offer. Moreton Bay Finance Broker, the mortgage brokers we work with, can reassess what you can borrow.
Rents are still rising in Brisbane, but the pace is easing. Cotality recorded annual rent growth of 6.7% for houses and 6.1% for units to October.[2] Nationally, rents rose 0.9% over the past three months, the smallest three-month rise since January 2025. Cotality’s national vacancy rate rose to 2.3%, its highest since January 2022, and vacancy was higher than a year ago in every capital except Darwin.[2]
On the REIQ’s own measure, Brisbane’s rental market is still tight. Its vacancy rate for Brisbane was 1.0% in the September 2026 quarter, the same as Queensland as a whole, and 48 of the 50 Queensland regions it tracks were in its tight range of 0 to 2.5%. The statewide rate has not been above 1.0% for 21 quarters.[5]
With rents rising and values falling, yields are improving. Brisbane’s gross rental yield is 3.7% for all dwellings, 3.5% for houses and 4.3% for units, and the combined capitals’ yield of 3.77% is the highest since May 2015.[2] Cotality notes that yields are still well short of what investors need for neutral or positive cash flow, with investor mortgage rates now close to 7%.[2]
Investors have also pulled back since the May Federal Budget’s changes to negative gearing and capital gains tax. New loans to investors in Queensland fell 10.1% in the June 2026 quarter, against 8.6% nationally.[5] Our guide to the 2026 negative gearing and CGT changes explains what changed. If you own or are buying a rental, SmartYield manages rental properties in Brisbane.
- Re-check your budget at 4.85%. Each rise lowers the amount lenders will approve.[3] Know your limit before you fall for a property.
- Use the extra time and choice. With homes taking longer to sell and discounts larger,[1] there is more room to negotiate on price, deposit, settlement timing and conditions such as finance and building and pest.
- Price off recent sales, not hopes. Cotality expects vendors to face increasing pressure to adjust their price expectations.[2] Compare a property with what similar homes nearby have sold for in the past few months, not with last autumn’s results.
- Don’t try to pick the bottom. Cotality’s view is that the most likely outcome is a gradual drift lower in values rather than a more material downturn, but that depends on inflation, interest rates and jobs.[2] Buy a home you can hold comfortably if rates rise again.
- Look area by area. Values fell almost everywhere over the past three months,[1] but results over the year varied widely between areas.[2] Our Brisbane suburb reports and list of the cheapest suburbs in Brisbane are a good place to start.
- Budget for the whole purchase. Our property purchase calculator adds transfer duty and the other buying costs to the price.
- Whether Brisbane’s monthly falls ease or deepen in November’s figures.
- Inflation and jobs data, and the Reserve Bank’s next decision: the Board says it will be guided by the data and its assessment of the risks.[4]
- Listings and sales over the rest of spring, as stock builds up.
- Rents and vacancy, now that rental growth is slowing nationally.
We will publish the next update in the first week of December with November’s figures. Earlier updates are in our Brisbane property market blog.
IPS Buyer’s Agents works only for buyers, never sellers. In a market like this one, that means finding the homes that suit your brief, checking what comparable homes have actually sold for, and negotiating the price and terms, or bidding for you at auction. See our buyer’s agent services for how we work, and our client success stories for examples. You can also read our Google reviews and Tim’s buyersagents.com.au profile.
Brisbane values fell 2.0% in October and are 8.3% below their May peak, though still slightly higher than a year ago.[2] Sales are down, stock is building and vendors are discounting more.[1] The cash rate rose again on 3 November, to 4.85%,[4] while rents keep rising more slowly and vacancy stays low.[2][5] For buyers with secure finance, there is more choice and more room to negotiate than there has been for several years.
This update is general information only, current at early November 2026. It is not financial advice and does not consider your circumstances. Cotality revises its index results each month for 12 months,[6] so later figures may differ slightly. Speak to your lender or broker before you buy.
If you are buying in Brisbane and want help negotiating in this market, book a time with Tim Allen.
- Cotality — Housing downturn broadens as Brisbane and Perth lead the decline (Home Value Index, October 2026 results, 2 November 2026)
- Cotality — Home Value Index, November 2026 report (PDF; results to 31 October 2026, including the capital city tables and the top 10 Greater Brisbane SA3 regions)
- REIQ — Households will hurt from highest interest rate in 15 years (29 September 2026)
- Reserve Bank of Australia — Statement by the Monetary Policy Board: Monetary Policy Decision, Media Release 2026-30 (3 November 2026)
- REIQ — Healthy vacancy rates kept at bay, says REIQ (September 2026 quarter vacancy rates, 26 October 2026)
- Cotality — Cotality indices: Daily Home Value Index monthly values at 31 October 2026, and index revisions
What is happening in the Brisbane property market in November 2026?
Brisbane dwelling values fell 2.0% in October 2026, the largest monthly fall of any capital city, and 6.1% over the three months to October, according to Cotality. They are 8.3% below their May 2026 peak but still 0.4% higher than a year earlier. On 3 November the Reserve Bank raised the cash rate to 4.85%.
What is the median house price in Brisbane?
Cotality’s median house value for Brisbane was $1,111,530 at the end of October 2026. Its median unit value was $811,084, and the median value across all dwellings was $1,018,401. These are Cotality’s figures for Greater Brisbane.
Are Brisbane house prices still falling?
Yes. Brisbane house values fell 2.0% in October and 6.2% over the past three months, and are 0.2% lower than a year ago. Units fell 1.7% in October but are 3.4% higher over the year. Cotality found that virtually every Brisbane suburb fell in value over the three months to October.
Are rents still rising in Brisbane?
Yes, but more slowly. Cotality recorded annual rent growth of 6.7% for Brisbane houses and 6.1% for units to October 2026. The REIQ put Brisbane’s rental vacancy rate at 1.0% in the September 2026 quarter, which it classes as tight.
What did the Reserve Bank do in November 2026?
On 3 November 2026 the Reserve Bank raised the cash rate target by 0.25 percentage points to 4.85%, its fifth rise of the year. Six members of its Monetary Policy Board voted for the rise and three voted to hold the rate at 4.60%. The Board expects inflation to stay above 3% over the coming year.
Is now a good time to buy in Brisbane?
That depends on your finances and plans more than on picking the low point. Buyers have more choice and more room to negotiate: across the capital cities, listings are at their highest for this time of year since 2019 and vendor discounts are the largest since May 2019. But higher rates have cut borrowing power, so check your pre-approval at the new rate and buy a home you can hold if rates rise again.