Are Brisbane house prices a bubble?

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Brisbane home prices have experienced an incredible rise since the beginning of the COVID-19 pandemic.

According to PropTrack, Brisbane dwelling values increased by 122% between March 2020 and April 2026, well above the 56% growth recorded over the combined capital cities:

Brisbane dwelling values vs other capitals

Cotality recorded a rise in Brisbane’s median home price from $503,265 in February 2020 to $1,116,180 in April 2026, an increase of $612,915 or 122%.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.