As a property buyer or seller in Queensland, you need to understand the key factors that will drive the 2024 real estate market. This comprehensive guide provides everything you require to make informed decisions in the year ahead. We explore projected price growth in Brisbane and regional centres, where to find affordable stock, and expert tips for timing your entry or exit. You’ll discover insightful analysis of supply and demand dynamics across different dwelling types from apartments to acreage. And importantly, we outline the likely impact of interest rate movements on prices and rental yields. Arm yourself with all the essential intelligence you need to prosper in 2024 Queensland real estate. Whether buying, selling or investing, this is your complete property playbook for the year.

The Queensland Real Estate Outlook for 2024

Economic and Demographic Growth

Queensland’s economy and population have been growing strongly over the past few years. Multiple major infrastructure projects, a thriving tourism sector, and interstate migration have all contributed to Queensland’s economic prosperity. This bodes well for the real estate market in 2024. With a larger, wealthier population comes increased demand for housing and commercial property. Interest rates are also expected to remain low, keeping mortgages affordable and encouraging property investment.

Residential Property

The residential property market, in particular, should continue performing well in 2024. House prices in Brisbane and the Gold Coast are forecast to rise 3-5% over the next few years. New apartments will likely face oversupply in some areas, potentially dampening price growth for units. However, well-located apartments and townhouses, especially those with access to amenities, should see healthy demand from both owner-occupiers and investors.

Commercial Property

Commercial property is also poised for solid performance. New infrastructure like the Brisbane Metro and Gold Coast Light Rail is making commercial hubs outside of CBDs more accessible and attractive. Coworking spaces and short-term leases are trending, as more people work remotely or start their own businesses. New mixed-use developments are revitalising neighbourhoods by bringing people and commerce together. All of these factors point to opportunities in the retail, office, and industrial sectors in 2024 and beyond.

Overall, Queensland’s real estate market looks very promising over the next few years. While there may be some variability in certain locations or property types, the big picture is one of a thriving, growing market fuelled by a strong state economy and increasing interstate migration. For those looking to buy or invest in property, 2024 should prove an excellent time to do so in Queensland.

Brisbane and Gold Coast Real Estate Trends in 2024

Brisbane Property Market

Brisbane’s property market in 2024 is set to continue its steady growth. Population increase and interstate migration to Queensland will drive demand for housing. Interest rates are expected to remain stable, keeping home loans affordable. These factors indicate potential capital growth for Brisbane properties, especially in the middle and outer suburbs.

Inner City Apartments

The oversupply of apartments in Brisbane’s inner suburbs will stabilise by 2024. Rental demand will increase due to population growth. Investors and owner-occupiers can find good opportunities to enter the market before prices start rising again. One- and two-bedroom apartments near public transport and amenities are likely to experience the strongest growth.

Middle and Outer Suburbs

Brisbane’s middle and outer suburbs like Chermside, Aspley and Albany Creek are expected to see solid price growth in 2024 due to high demand and limited supply of family homes. Properties with large yards and additional living space will be highly sought after by young families and interstate migrants.

Gold Coast Property Market

The Gold Coast’s property market is poised for a prosperous 2024. Its strong tourism industry and popularity as a sea-change destination will drive further population increase. The Commonwealth Games in 2022 will also boost the city’s economy and raise its national and international profile. These factors point to healthy growth in the Gold Coast’s property market, especially in lifestyle suburbs and coastal areas. Investors and home buyers should consider entering the market in 2023 to take advantage of more affordable prices before stronger growth returns in 2024.

In summary, Brisbane and the Gold Coast property markets are forecast to experience sustainable capital growth in 2024 due to population rise, economic prosperity, and stable interest rates. Investors and home buyers will find good opportunities, but the window to buy before stronger price growth may start closing by late 2023. With the right property choice and financing, you could benefit from the healthy returns these property markets are set to deliver.

Regional QLD Hotspots – Where to Invest in 2024


As Queensland’s capital city, Brisbane remains an attractive market for property investors in 2024. With solid population growth and a strengthening economy, Brisbane is poised for price growth in both the residential and commercial sectors over the coming years. Infrastructure development, particularly improved transport links, will further drive demand.

Suburbs to watch include inner-city areas like Fortitude Valley, Kangaroo Point and South Brisbane, which offer apartment living within close proximity to amenities and public transport. Middle-ring suburbs such as Mt Gravatt, Mt Ommaney and Sunnybank Hills also present opportunities, with more affordable detached housing and good access to road networks.

Gold Coast

The Gold Coast continues to experience strong interstate migration and tourism, underpinning its property market. While price growth has slowed from the highs of recent years, the city’s lifestyle appeal ensures consistent demand, particularly for coastal property.

Areas in proximity to beaches, entertainment precincts and transport links, such as Southport, Main Beach and Mermaid Beach are poised to perform well. Further north, suburbs like Hope Island and Sanctuary Cove, with master-planned residential estates and marina access, also show promise for patient investors seeking solid returns over the long term.

Sunshine Coast

Bolstered by its natural surroundings, relaxed lifestyle and improved transport connectivity, the Sunshine Coast is an increasingly popular choice for home buyers and investors alike. Strong population growth is driving residential development, while commercial projects are transforming the retail and hospitality landscape.

Suburbs close to the new Sunshine Coast airport, including Birtinya, Wurtulla and Warana, are likely to experience strong growth due to improved access. Coastal hotspots Mooloolaba, Peregian Beach and Noosa Heads will continue to attract premium prices, though more affordable neighboring suburbs may also perform well. With diverse market opportunities, the Sunshine Coast is one to watch in 2024 and beyond.

How Interest Rates and the Economy Will Impact QLD Real Estate

In 2024, interest rates and overall economic conditions in Queensland will significantly impact the real estate market. As interest rates rise from their historic lows, housing affordability may decrease for both buyers and investors. However, a strengthening state economy could counteract some of these impacts.

Interest Rate Increases

The Reserve Bank of Australia (RBA) is likely to continue increasing interest rates in 2024 to curb inflationary pressures. As interest rates rise, mortgage rates will also increase, reducing buying power for both home buyers and investors. Higher interest costs may lead some owners to sell their properties, increasing housing supply. For buyers, higher rates mean higher mortgage payments, decreasing affordability. Investors may also face lower rental yields as their costs rise.

Economic Growth

However, Queensland’s economy is projected to continue steady growth in 2024. Low unemployment, increased migration into the state, and higher consumer confidence are all positives for the real estate market. As the economy strengthens, population growth accelerates, fueling housing demand. More people moving into Queensland will require places to live, even with higher interest rates. Strong economic fundamentals may help support property values even if sales slow.

Balancing Act

In summary, interest rate increases and a stronger state economy will exert countervailing forces on Queensland’s residential real estate market in 2024. While higher rates threaten to reduce affordability and slow activity, a growing economy and population base should provide underlying support. The strength of these opposing impacts will determine trends in property values, listings, and sales over the next year. Careful monitoring of economic indicators can help buyers, sellers, and investors navigate what may be volatile conditions.

Frequently Asked Questions About the 2024 Queensland Property Market

What type of growth can be expected in the Queensland property market in 2024?

The Queensland property market is projected to experience moderate price growth of 3-5% in 2024. This stable growth can be attributed to steady demand from interstate migrants and first home buyers taking advantage of low interest rates. While some areas may see slightly higher or lower growth depending on local supply and demand factors, in general the 2024 outlook for the Queensland property market is one of sustainable growth.

Will there be more property for sale in 2024 compared to previous years?

Supply levels are expected to remain relatively steady in 2024 compared to 2023. Some areas may see a minor increase in new listings coming onto the market, however overall listing volumes should not drastically impact property values or time on market across the state. For buyers, a balanced level of supply and demand means there will still be good opportunities to find a property that suits their needs without too much competition.

What locations in Queensland are forecast to experience the strongest growth?

Areas in South East Queensland, particularly those within a 30-60 minute commute of Brisbane’s CBD, are likely to achieve the strongest price growth in 2024. The Sunshine Coast, Moreton Bay, and Ipswich regions are all poised for solid capital gains thanks to major infrastructure projects improving connectivity and desirability. Coastal lifestyle destinations from the Gold Coast up to the Fraser Coast should also remain highly sought-after, with many interstate sea-changers relocating to enjoy an idyllic beachside retirement.

How will interest rates impact the Queensland property market?

Interest rates are expected to remain at historical lows for most of 2024, which will continue to stimulate property demand in Queensland. Low rates make home loans more affordable, allowing both owner-occupiers and investors to borrow more to purchase property. With interest rates unlikely to rise significantly in the short to medium term, 2024 is shaping up to be another year where low rates drive property price growth in Queensland.

In summary, the 2024 outlook is positive for Queensland’s property market with sustainable capital growth, balanced supply levels, and the ongoing support of low interest rates. For both buyers and sellers, next year is looking like an optimal time to invest in Queensland real estate.


The Queensland real estate market in 2024 looks set to provide opportunities across property types and locations. With economic and population growth continuing, demand is likely to remain relatively strong, especially in southeast Queensland. That said, each area and property will need thorough research before purchase. Overall, by setting realistic expectations, understanding market conditions, and seeking professional advice, most buyers should be able to find good options. With the right property at the right price, 2024 could be a good year to secure your ideal Queensland home or investment.