Brisbane growth slows to 0.3% in June as Cotality revises May down

In this article

Written by

Kooky

Builder of Shaka, the payment router that pays every agent their commission on closing date.

About Kooky and Shaka →

Brisbane home values rose 0.3 per cent in June, the Cotality Home Value Index published on 1 July 2026 shows. Nationally the index fell 0.4 per cent, which Cotality describes as the largest month-on-month fall since December 2022.

Queensland's capital is still on the rising side, but the pace has dropped sharply. Cotality notes that Brisbane values rose at an average of 1.9 per cent a month through the March quarter. June's gain is less than a sixth of that.

Cotality Home Value Index, results to 30 June 2026, published 1 July 2026. All dwellings.

A slower quarter in every capital

Over the June quarter, Brisbane dwelling values rose 1.3 per cent, down from the 3.4 per cent Cotality reported a month ago for the three months to May. The national index fell 0.7 per cent over the quarter. The combined capitals fell 0.6 per cent in June and 1.3 per cent over the quarter, which leaves them 1.3 per cent below the peak they reached in March.

The two largest cities are falling faster than they were. Sydney was down 1.2 per cent in June and 3.2 per cent for the quarter, and Melbourne 1.0 per cent and 2.6 per cent. Melbourne values are now 0.9 per cent lower than a year ago, the only capital in negative territory over twelve months, and Canberra fell 0.6 per cent in the month.

The mid-sized capitals have slowed together. Perth rose 0.7 per cent in June, after averaging 2.5 per cent a month through the March quarter, and Adelaide did not move at all. Cotality describes the change in Brisbane and Perth as a material slowdown. Darwin, up 1.4 per cent, was the strongest capital for the month, and Hobart rose 0.6 per cent.

Cotality still lists Brisbane, Adelaide, Perth and Darwin as sitting at record highs. Brisbane's median dwelling value is $1,118,306, the second highest of the capitals after Sydney's $1,265,608. The gap between the two has narrowed to $147,302, from $155,871 a month ago.

What the May revision changed

The June release also changes the recent past. Cotality says most regions were revised lower with this update, and that the largest revisions were in Perth and Brisbane. A month ago, the first estimate for Brisbane in May was a rise of 0.9 per cent.

Cotality's explanation is that the downward revision reflects a market that is changing rapidly. Its index is re-estimated each month as late sales are recorded, and the company's methodology says every index is revised for twelve months after it is first reported. When conditions turn quickly, the first estimate can run ahead of what the full set of sales later shows.

The revision reaches further back than May. A month ago Cotality showed Brisbane's April rise at 1.0 per cent, already down from a first estimate of 1.2 per cent. The new quarterly figure of 1.3 per cent, with June at 0.3 per cent, leaves about 1 per cent for April and May together. The slowdown therefore began earlier, and was sharper, than the first estimates suggested.

Two visible results follow. The national index, first reported as flat in May, now shows a fall for that month as well. And the published Brisbane median dwelling value is lower than last month's, at $1,118,306 against $1,126,149, even though the index rose over June.

Units still lead inside Brisbane

The slowdown is not even across property types. Brisbane unit values rose 0.6 per cent in June and 2.2 per cent over the quarter, according to Cotality's tables. House values rose 0.2 per cent in the month and 1.1 per cent over the quarter. The median values are $885,132 for units and $1,225,350 for houses, a difference of $340,218.

The annual figures carry the strong months of late 2025 and early 2026 inside them, so they will keep looking healthy for some time even if monthly gains stay small. They are already lower than a month ago, when Cotality had Brisbane dwellings 19.1 per cent higher over the year, houses 18.6 per cent and units 21.8 per cent. The quarterly and monthly numbers are the ones that describe the present.

Units holding up better than houses is a national pattern in the June tables. In Sydney, Cotality has house values down 1.5 per cent in the month and units down 0.6 per cent. Domain's forecasts for the 2026-27 financial year, reported by ABC News on 25 June, expect the same in Brisbane: a rise of 3 to 7 per cent for houses and a stronger result for units.

The rental side has barely moved. Cotality puts the gross rental yield at 3.3 per cent for Brisbane dwellings and 4.1 per cent for regional Queensland, the same as a month ago. Nationally, rents rose 5.9 per cent over the year and the vacancy rate edged up from 1.5 to 1.6 per cent.

Regional Queensland and the fastest areas

Regional Queensland rose 0.4 per cent in June and 1.5 per cent over the quarter, slightly ahead of Brisbane on both counts, with a median value of $855,835. Its May figure was revised down by a fifth of a percentage point, far less than Brisbane's. The combined regional index for Australia rose 0.3 per cent in the month and 1.1 per cent over the quarter, and Cotality says the pace of gains is clearly slowing across the regions as well.

Cotality's regional tables still show annual growth above 20 per cent in parts of the state. Darling Downs West and Maranoa is up 24.0 per cent, Darling Downs East 23.9 per cent, Central Highlands 21.5 per cent and Toowoomba 20.1 per cent, with a median of $867,646 in Toowoomba. Maryborough follows at 19.0 per cent. The rates are a little lower than in May, when Darling Downs East led at 25.1 per cent and Toowoomba was at 21.1 per cent.

Within Greater Brisbane, the strongest annual growth is in the Logan and Beaudesert area to the south and around Caboolture to the north. Beenleigh leads at 22.9 per cent, followed by Beaudesert at 22.5 per cent, Loganlea and Carbrook at 22.4 per cent, Springwood and Kingston at 22.1 per cent and Caboolture at 21.8 per cent. The median value in Beenleigh is $939,705. A month ago the same list was led by Beaudesert at 24.7 per cent.

The national backdrop

Cotality attributes the national weakness to affordability hurdles, cost-of-living pressures, deeply pessimistic sentiment and the federal Budget's proposed changes to negative gearing and the capital gains tax discount. It also points to the 75 basis points of interest rate rises delivered between February and May. The Reserve Bank held the cash rate at 4.35 per cent on 16 June.

The activity figures have weakened with prices. Capital city sales over the three months to June were 16.2 per cent lower than a year earlier and 14.5 per cent below the five-year average. Advertised stock across the capitals is back in line with its five-year average and almost 11 per cent higher than a year ago. The combined capitals auction clearance rate has stayed below 50 per cent since the last week of May and slid into the low 40 per cent range by late June.

Other sources published on 1 July point the same way. PropTrack's Home Price Index recorded a third straight monthly fall nationally, of 0.3 per cent, and, unlike Cotality, has Brisbane prices slipping 0.2 per cent in June. ABC News reported Westpac's observation that applications for investment loans have fallen by about 20 per cent.

Cotality's outlook is for a further loss of momentum and a gradual drift lower in values, not a sharp national correction. It names investor-heavy markets, higher-value segments and areas where listings have risen above average as the most exposed. That is the company's assessment, not a measurement.

Brisbane therefore ends the financial year 17.4 per cent higher than it began, and with a monthly gain that is a fraction of those recorded in the March quarter. The Reserve Bank's Board next meets on 10 and 11 August. The July index, due at the start of August, will show whether 0.3 per cent was a pause or the start of something flatter, and what the next round of revisions does to June.

Kooky, from Shaka

Kooky edits Queensland Estate and builds Shaka, the payment router he made for Queensland property professionals. One payment comes in, and every agent, agency and party in the deal receives their signed share on closing date.

About Kooky and Shaka →