Brisbane Leapfrogs Canberra to Become 2nd Most Expensive City to Buy a House

Brisbane, the capital city of Queensland, has leapfrogged the nation’s capital Canberra to become the second-most expensive city to buy a house in the country. A position it has not held since 1997. The leaderboard for Australian real estate markets continues to reshuffle, mainly due to a lack of housing supply, increasing prices, and the influx of overseas and intrastate migration in the post-pandemic period. In January, Brisbane house values surpassed Melbourne’s median for the first time since June 2008. Now, according to the latest CoreLogic report (pdf) released on June 3, the median house value in Brisbane sits at $937,479—just $190 above the Melbourne median....