<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/brisbane" rel="" target="_blank" title="Brisbane"><span>Brisbane</span></a><span> has become Australia's latest million-dollar property market, as median house prices surged into seven figures for the first time.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>According to analysis from Cotality, median house prices in the Queensland capital reached $1,006,000 in May, up from $996,000 in April, and from $942,000 in May 2024.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The price increase continued in June, lifting to $1,011,000.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/texas-floods-victims-faces-of-the-devastating-tragedy/9795e553-a367-4d8e-a1de-6d83f48c8c4a" target="_blank"><strong><span>The faces of the Texas flood tragedy</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It's the first time on record median house prices in Brisbane have topped $1 million, putting it next to Sydney for average property values.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Brisbane has been the house market with the second highest-prices in Australia - behind only Sydney - for nine months as of June, overtaking Canberra in October last year and Melbourne in June last year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, there remains considerable daylight between Brisbane prices and Sydney prices.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/brisbane-house-median-price-over-1-million-dollars-for-first-time-on-record/10d62907-2b48-4a78-8681-3f661f9b17a6" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/carolina-wilga-search-for-backpacker-missing-from-outback-wa-expands-across-australia/91d37c37-34cd-4f4a-9c22-a16cf6ebfa4e" target="_blank"><strong><span>The call from missing backpacker's mum that raised the alarm</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Cotality found the gap between Sydney's median home values and Brisbane's was aat $549,000, down a little from its peak of $567,000 last October.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Meanwhile, Brisbane's median is $63,000 above Melbourne's and $30,000 higher than Canberra's.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Cotality said Brisbane house values had risen steeply since the early stages of the COVID-19 pandemic, surging 76.1 per cent from June 2020 to June 2025.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/multiple-pedestrians-hit-by-car-in-melbourne/56b9a06c-3aac-407e-b554-2ff0fa4d06c8" target="_blank"><strong><span>Woman killed, toddler hurt, man fighting for life after footpath horror</span></strong></a></div></div><div class="styles__Wrapper-sc-2o34ro-0 cmwkBV"><div class="styles__Column-sc-2o34ro-3 jJDKrX"><a href="/content/2025/05/14/13/19/australian-housing-market-two-locations-emerge-as-front-runners-for-property-value-growth-according-to-real-estate-analysis-company-hotspotting"><img alt="sailing boats at dusk at Launceston Tasmania, Australia" sizes="(min-width: 1024px) 636px, (min-width: 768px) 396px, 100vw" src="https://imageresizer.static9.net.au/lCfGSt5oVzC3MvWObVLPpWuLYjQ=/0x0:2121x1193/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2F04ba6a64-1e6d-4ea7-a7b5-97a019c6b8f6" srcset="https://imageresizer.static9.net.au/lCfGSt5oVzC3MvWObVLPpWuLYjQ=/0x0:2121x1193/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2F04ba6a64-1e6d-4ea7-a7b5-97a019c6b8f6 396w, https://imageresizer.static9.net.au/xUZwTZ_09p9ST0KJtzQO7YmpJf8=/0x0:2121x1193/636x358/https%3A%2F%2Fprod.static9.net.au%2Ffs%2F04ba6a64-1e6d-4ea7-a7b5-97a019c6b8f6 636w"/></a></div><div class="styles__Column-sc-2o34ro-3 jJDKrX"><div class="styles__Headline-sc-2o34ro-4 hpbOlz">The surprising housing markets tipped for growth this year</div><div class="styles__Button-sc-2o34ro-1 eBjlmW"><a class="styles__ButtonLink-sc-2o34ro-2 hqpklJ" href="/content/2025/05/14/13/19/australian-housing-market-two-locations-emerge-as-front-runners-for-property-value-growth-according-to-real-estate-analysis-company-hotspotting">View Gallery</a></div></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Their research found that much of the price increase had been driven by interstate migration, which had its foundations in cost of living and lifestyle motivations.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Brisbane's population grew 9.2 per cent - or by 235,000 people - between June 2020 and June 2024, Cotality said, compared to six per cent growth nationally in the same period.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, the booming house prices that mark Brisbane's success in attracting new residents could also see that very trend reversed.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Cotality also found house price growth was slowing if still solid, rising 1.9 per cent in the latest quarter, compared to 3.5 per cent in the June 2024 quarter and a high of 10.2 per cent in the three months to November 2021.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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