Brisbane Land Prices Break Records

Brisbane has officially overtaken Melbourne to claim the title of Australia’s second-most expensive capital city for land — behind only Sydney — with median land values now reaching $1,623 per square metre, or $702,000 for an average block.

New data from RPM Group’s South-East Queensland Greenfield Market report paints a sharp picture of dwindling land supply and explosive demand. The report reveals a 17% year-on-year surge in prices across South East Queensland (SEQ), driven by population growth, tight supply, and rising development complexity.

Among the most eye-catching examples: a 599sqm vacant block in Watson Street, Camp Hill, sold for a staggering $2.385 million — a new record for the suburb.

“We’ve never experienced this sort of market,” said Place Woolloongabba agent Denis Najzar. “People are coming from Victoria, from overseas, and they’re willing to pay $1 million more than a nearby sale if they see value.”

Regional Markets Catch Fire

While Brisbane’s price leap is drawing national attention, ripple effects are being felt across the entire region.

• Ipswich: Prices have jumped 33% to $1,086/sqm.
  
• Moreton Bay: Now averaging $1,100/sqm (up 14%).
  
• Toowoomba: Leading the pack with a 63% year-on-year increase, reaching $603/sqm.
  

In the masterplanned suburb of White Rock, a 483sqm block sold for $515,000. Another block nearby fetched $660,000 — numbers that would have shocked locals even 12 months ago.

According to RPM’s Queensland and NSW Managing Director Clinton Trezise, affordability pressures are pushing buyers into fringe markets and regional corridors.

“Population growth and buyer demand have pushed property prices beyond the grasp of many — especially in Brisbane,” Trezise said.

A Supply Shortage Decade in the Making

RPM’s report warns that land availability is now at crisis levels, with just over 8,000 vacant lots registered across the region in the 12 months to March — the lowest in more than a decade.

Most of SEQ’s growth corridors are operating on less than one month’s supply.

This shortage is being driven by:

• Planning delays
  
• Infrastructure bottlenecks
  
• Limited new project approvals
  
• Labour shortages — especially as trades are funnelled into Olympic Games infrastructure
  

“Land developers report struggling to get projects over the line,” said Trezise. “Planning complexities and infrastructure constraints are choking the pipeline. Without reform, it’s only going to get worse.”

The Olympic Squeeze: A Boom with Consequences

The 2032 Brisbane Olympic Games have undoubtedly lifted the city’s global profile — driving migration, attracting capital, and accelerating major infrastructure works.

But they’ve also created a critical bottleneck.

With labour and resources directed toward Olympic projects, the residential sector is facing delays and inflated costs. Builders and developers are finding it harder — and slower — to get work done.

This has pushed more buyers into established suburbs and outer-ring markets, adding pressure to already stretched supply.

What This Means for Builders

For residential builders, the market is shifting — and fast. Here’s what it means:

• Land acquisition is becoming a specialist skill. Builders that previously relied on developer estates are now competing with investors and high-net-worth buyers.
  
• Smaller blocks are the new normal. Builders need to design smarter — with flexible floorplans, efficient footprints, and premium finishes on tighter lots.
  
• Clients are maxed out on land. If buyers spend $600k–$700k just on dirt, there’s less budget for the build. Builders who offer cost certainty, package deals, or clever upgrades will win more work.
  

As one local builder recently told us, “You’ve got to build like every dollar counts — because for most clients now, it really does.”|

The Bigger Picture: Housing Affordability Under Threat

This rapid price escalation is not just a headline-grabber — it’s a genuine threat to homeownership.

Young families, first-home buyers, and moderate-income earners are being pushed further to the fringe or out of the market altogether.

And while the growth might seem exciting on paper, there’s a growing call for smarter solutions — not just higher prices.

“We need a coordinated strategy — planning approvals, infrastructure funding, and developer support — to get shovels in the ground and affordable land back into the market,” said Trezise.

The TGB Take

Brisbane is no longer the affordable capital. It’s a booming Olympic city with global interest, tight supply, and fast-shifting demand.

That shift brings opportunity — but also risk. For builders, the smart move is to adapt quickly:

✔️ Leaner designs

✔️ Better communication on budget expectations

✔️ Deeper relationships with developers and land agents

For governments and industry bodies, the message is clearer still:

Fix the planning bottlenecks. Invest in infrastructure. Get approvals moving.

Because this isn’t just about cost per square metre — it’s about whether the next generation of Queenslanders can afford to live, work, and raise families in the state they love.

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Author: TGB Editorial