Brisbane Property Market Defies Rate Rise, Auctions See Strong Demand
Brisbane, Australia – Brisbane’s property market continues to demonstrate resilience, with strong auction results defying recent interest rate increases, according to reports from the weekend of February 20-21, 2026. Despite a 0.25% rate rise, demand for quality homes, particularly in sought-after suburbs, remains robust, driving prices upwards.
The market’s strength was evident across several suburbs, with properties selling above reserve and often attracting multiple bidders. In Wilston, a five-bedroom house at 57 Fifth Avenue sold at auction, with the price exceeding expectations, according to Ray White – Wilston agent Alistair Macmillan. He noted the suburb has been undervalued for some time, but is now emerging as a “prestige pocket” due to dwindling listings.
“Twenty years ago there were around 150 houses per annum sold in Wilston. And now it averages to 50 or 60,” Macmillan said. “We have seen a massive decline in listings and it’s purely because people are holding on for longer.”
The trend of limited supply is contributing to increased competition. Median house prices in Wilston have climbed 8.7% over the past year, reaching $2.065 million.
Elsewhere, a three-bedroom home in Stafford Heights fetched $1.55 million, nearly $1 million more than its 2020 sale price. The property, located at 82 Ringrose Street, saw strong interest from first-home buyers and families. Harcourts Pinnacle agent Sonya Klease described the sale as “an amazing price,” highlighting Stafford Heights’ growth and proximity to the city. Prices in Stafford Heights have increased by $100,000 to $150,000 in the last 12 months, with the median now around $1.3 million.
Further south, in Seventeen Mile Rocks, a four-bedroom house sold for $1.6 million, $100,000 above the reserve price. The property at 61 Brookeside Crescent attracted five bidders, demonstrating continued demand in the area. Place Graceville agent Julian Maddox noted that prices in Seventeen Mile Rocks have jumped approximately 40% in the last two years, driven by an influx of younger families.
Across South East Queensland, 143 auctions were scheduled. Preliminary results from Domain show a clearance rate of 57% from 88 reported results, with 11 homes withdrawn.
Domain’s chief of research and economics, Dr Nicola Powell, acknowledged the strong start to the year for Brisbane’s auction market, attributing it to buyers who missed out in late 2025. However, she cautioned that clearance rates may begin to decline as the year progresses. Despite this, Dr. Powell expects continued price growth due to Brisbane’s chronic undersupply of housing.
