According to new data from Cotality Data, the March 2025 quarter saw the median house sale price rise by 0.61 per cent to $812,000, while the median unit price lifted by 3.85 per cent to $675,000.
But the bigger story lies in the longer-term shift, with REIQ CEO Antonia Mercorella calling it โa staggering 61.22% increaseโ in house values since March 2020.
โIn March 2020, as Australia was shutting its borders and grappling with economic uncertainty, Queenslandโs annual median house price was just $490,000 โ today itโs $790,000 representing a staggering 61.22% increase,โ Ms Mercorella said.

โQueensland units have similarly surged from $385,000 to $640,000, a 66.23% increase in the median sales price over the same five-year period. As prices have climbed, units have become a popular go-to option for buyers seeking more affordable entry points.โ

Brisbaneโs winning bid to host the 2032 Olympic Games also played a key role in reinforcing buyer confidence during that period.
โAlso, during this extraordinary period, around four years ago, our capital city was announced as the host of the Olympic Games โ a milestone that began building confidence in the capital and surrounds in the 2032 run up,โ she said.
Brisbaneโs annual median house price has climbed 72.86 per cent over five years, now sitting at $1.21 million.
But regional markets, once undervalued, have in some cases seen even greater gains.
โHouse prices in Bundaberg have doubled over five years (100%), and Ipswich has seen a near doubling of its annual median price, up 96.95% since March 2020,โ she said.
โSimilarly for units, the unassuming areas on Brisbaneโs outskirts of Ipswich and Logan LGAs have seen truly remarkable triple-digit growth of 103.75% and 119.65% respectively. Fraser Coast and Gladstone also recorded near-doubling of unit values.โ
Ms Mercorella described the performance of these markets as a reflection of โQueenslandโs expanding demand footprint and deeper decentralisation”.
This is being fuelled by both owner-occupiers and investors seeking value and growth opportunities.

The stateโs capital has also climbed the national rankings.
โQueenslandโs property market has not only weathered five years of economic, interest rate and policy shifts, but had defied expectations with our capital cityโs dwelling value even overtaking Melbourne to become the nationโs second most expensive market,โ she said.
โMeanwhile, the gap between Brisbane and Sydneyโs median dwelling values has narrowed to just 24% โ the closest margin since 2013 โ compared to 42% five years ago.โ
Still, Mercorella acknowledged the downside of such rapid price growth.
While many property owners have benefitted from this boom, there is no escaping the fact that a growing affordability issue has emerged.
She called for a stronger focus on supply-driven solutions.
โIf we want to enable sustainable price growth and ensure future generations the same opportunity to own a home, housing policy must be squarely focused on supply. Any attempt to improve affordability without significantly increasing housing stock is doomed to fall short.โ
โHigher density and diversity of housing is part of the solution, but we must also address deeper structural barriers to new freestanding housing. Challenges such as escalating construction costs, labour shortages, poor productivity, land scarcity and delays within planning and approval systems, must be addressed.โ
While the March quarter figures indicate slightly more moderate activity, the underlying fundamentals remain firm.
โThis quarterโs steadier performance likely reflects a combination of factors โ including buyer hesitancy around the Federal election and lingering interest rate uncertainty which may have temporarily subdued selling and buying activity,โ Ms Mercorella said.
The data also shows the scale of the supply gap. Under the Australian Governmentโs National Housing Accord, Queensland is expected to deliver 49,300 new homes annually.
But in the 12 months to December 2024, only 31,800 dwellings were completed.