Brisbane unit prices are closing in on Sydney. What buyers need to know

Key takeaways:  

• Brisbane unit values rose 21.8% over the past year, making it one of Australia's fastest-growing housing markets.

• More first-home buyers are turning to units as detached houses move further out of reach.

• Strong population growth and limited new supply continue to support demand for Brisbane apartments.

• Buying sooner isn't always the right move, but understanding your borrowing power can help you assess your options.

• An Aussie Broker can help compare scenarios and understand how a unit purchase may affect borrowing capacity and affordability.

For a growing number of Brisbane buyers, the dream of owning a house is giving way to a more practical question: could a unit be a more accessible pathway into the market?

As house prices continue to climb, more buyers are turning their attention to apartments, helping drive one of Australia's strongest-performing unit markets.

According to Cotality's national Home Values Index for May, Brisbane unit values have surged 21.8% over the past year, lifting the median unit value to $884,881. That's now within striking distance of Sydney's median unit value of $904,326. That is less than a $20,000 difference.

If current trends continue, Brisbane’s median unit value may approach or potentially surpass Sydney median unit value.

Source: Cotality national Home Value Index, May 2026

For buyers weighing up whether to purchase now or wait, it raises an important question: how do you navigate a market where the traditional affordability advantage is becoming harder to find?

Brisbane unit values are narrowing the gap with Sydney

The gap between Brisbane and Sydney's unit markets is narrowing rapidly.

While Sydney unit values have risen 2.4% over the past year, Brisbane units have surged 21.8%, making Brisbane one of Australia's strongest-performing unit markets.

Cotality research director Tim Lawless said Brisbane could overtake Sydney as Australia's most expensive unit market if current trends continue.

"We're already seeing some modest downward pressure in Sydney unit values while Brisbane unit values are still rising quite swiftly," he said.

However, he cautioned that such a shift may not necessarily be a positive sign for affordability.

"If that happens, I think it would partially reflect Brisbane becoming overvalued from a unit market perspective," he said.

"As good as it is for those who own apartments in Brisbane and have ridden a very strong wave of growth, I think it also reflects some risk emerging in that sector of the market."

For buyers, it highlights how quickly Brisbane's affordability advantage has narrowed. Apartments may still offer a lower-cost entry point than houses, although affordability differences vary by suburb and property type.

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Units are becoming the new entry point to Brisbane home ownership

For many Brisbane buyers, apartments are no longer a compromise. They're becoming the most realistic pathway into the market.

With Brisbane's median house value now sitting above $1.23 million, a growing number of buyers are looking at units instead.

Benjamin Vagg, Aussie Broker at Aussie Paddington, said many buyers are choosing units because houses have simply become too expensive.

“Most of the clients that I'm seeing are looking at units out of necessity rather than out of choice,” he said.

“Houses have moved out of reach for a huge portion of the market, which is pushing all of that demand into units.”

Vagg said first-home buyers are particularly active in the unit market.

“There are not many houses in Greater Brisbane that are going to be priced less than $1 million,” he said.

“They're just going into units out of necessity.”

First-home buyers aren't the only group targeting Brisbane units.

Vagg said the lead-up to the 2032 Olympic and Paralympic Games frequently comes up in conversations with investors considering Brisbane property.

“Most investors that I speak with reference the Olympics as one of the primary drivers for their investment in and around Brisbane,” he said.

He said investors are paying close attention to the infrastructure projects, population growth and economic activity associated with preparations for the Games.

“They see the infrastructure that's being built and the improvements taking place,” he said.

“The people that infrastructure construction brings in come here to stay as well.”

While major events do not guarantee property price growth, the Olympics are becoming part of the investment conversation for some buyers, particularly as new apartment supply remains constrained.

For borrowers, that affordability difference can significantly reduce the size of the loan required and the deposit needed to enter the market.

An Aussie Broker can help buyers compare the costs of purchasing a unit versus a house, including how different property prices may affect repayments and borrowing requirements.

A shortage of new apartments is adding to competition

Demand isn't the only force pushing Brisbane unit values higher.

A limited pipeline of new apartment supply is creating additional competition for existing stock, particularly in well-connected parts of South East Queensland.

Lawless said Brisbane's apartment market had undergone a significant shift in recent years, moving from an oversupplied market to one facing persistent supply shortages.

“The unit sector is chronically undersupplied,” he said.

“It's hard to see this market moving backwards in any material way until we start to see more buildings and more projects being delivered.”

Construction challenges continue to limit new apartment supply, while Queensland's strong population growth is adding further demand pressure.

Vagg said many investors are still struggling to find suitable new stock.

“Some say ‘I could buy something new’, or ‘they can't find anything new to buy’,” he said.

Despite this, population growth, limited supply and ongoing investor interest were continuing to support demand for Brisbane units.

This may support demand for well-located units, although future market conditions remain uncertain.

Rising prices are creating trade-offs

Rising unit prices are creating difficult trade-offs for some buyers.

Waiting may result in different market conditions, while purchasing before you're financially ready could place pressure on household finances.

Vagg said concerns about affordability worsening have become increasingly common in conversations with borrowers.

“I spoke to someone just last week who I had spoken with a bit over a year ago,” he said.

“She was already saying, 'I'm starting to feel that I missed my window. I should have purchased last time we spoke’.”

You might also be interested in: Could waiting to buy a home cost you in the long run?

While fear of missing out can be powerful, buyers should be careful not to let market headlines drive major financial decisions.

Instead, buyers may want to consider:

• Whether the property suits their long-term needs

• Their current borrowing capacity

• How repayments would fit within their budget

• Additional costs such as body corporate fees

• Whether they have an adequate financial buffer

An Aussie Broker conversation can help borrowers model different scenarios and understand what is achievable based on their own circumstances.

The true cost of buying a unit goes beyond the purchase price

While units are generally more affordable than houses, the lending equation isn't always straightforward.

Body corporate and strata costs can affect how lenders assess ongoing expenses, which means some borrowers may not see as much of a borrowing power boost as they expect.

“There is a reduction in borrowing power in most cases if you're buying a unit over a house because we've got strata and body corporate fees that need to be factored in as an expense,” Vagg said.

However, the lower purchase price often means buyers require a smaller loan overall.

For many Australians, the question is less about maximising borrowing power and more about finding a property that fits both their lifestyle and budget.

This is where understanding the full cost of ownership becomes important.

How much difference can a unit make?

The affordability gap between Brisbane houses and units isn't just visible in median values. It can also have a substantial impact on the deposit and loan size required to purchase a property.

Source: Cotality National Home Value Index, May 2026. Illustrative examples only. Figures assume a 20% deposit and do not include stamp duty, lender fees, legal costs, body corporate fees or other purchase expenses. Actual borrowing requirements will depend on individual circumstances and lender criteria.

For buyers, that difference can be significant.

Using Brisbane’s median values as an example, purchasing a unit instead of a house would reduce the required deposit by $69,562 and lower the loan amount by approximately $278,246, before purchase costs and individual circumstances are considered.

While units may involve ongoing costs such as body corporate fees, the lower purchase price can make entering the market more achievable for some buyers.

An Aussie Broker can help compare different property types, understand how ongoing costs may affect borrowing capacity and explore what may be achievable based on individual circumstances.

The right decision depends on more than where prices go next

The temptation in a fast-moving market is to focus on what prices might do next.

But for most buyers, the more important question is whether purchasing now aligns with their finances, lifestyle and long-term plans.

For some Australians, purchasing sooner may align with their goals or circumstances. For others, taking additional time to save, reduce debt or improve their financial position may be the better option.

The key is understanding what is achievable within your budget and making decisions based on your own circumstances rather than market headlines.

That includes understanding their borrowing power, assessing their budget and making sure any purchase aligns with their long-term goals.

An Aussie Broker can help buyers explore their options, compare loan scenarios and understand what a Brisbane unit purchase could look like based on their individual circumstances.