First published 28 Oct 2026, 12:00am
Oliver Hume Queensland general manager, Dan Ross. Picture: Supplied
South East Queensland land prices have hit an all-time high despite a drop in buyer demand, with Gold Coast leading the price growth.
New research by Oliver Hume Property Group revealed the median price of a residential lot in SEQ rose $9000 (1.7%) in the September quarter to a new peak of $549,000.
This pushed annual price growth in SEQ to $64,100 or 13.2 per cent.
Oliver Hume chief economist, Matt Bell said land prices were holding up despite a clear deterioration in buyer demand.
“We have seen a significant reduction in enquiries and buyer activity as higher interest rates put further pressure on household budgets and borrowing capacity, but that weakness is yet to translate into a meaningful correction in land prices,” he said.
“Buyers are becoming more cautious and taking longer to make purchasing decisions, but prices are still rising across most of South East Queensland.
“The underlying shortage of available land continues to support prices, even as demand softens.
“There is simply not enough supply coming to market to create meaningful downward pressure on prices.”
The 611 sqm lot at 11 Melaleuca Drive, Palm Beach, is for sale for offers over $2.3m. Picture: realestate.com.au
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Mr Bell said the resilience of prices was particularly evident in the major growth corridors of Ipswich, Logan and Moreton Bay, where demand for more affordable housing remained relatively strong.
“Ipswich has recorded annual price growth of 24 per cent, while Logan is up 19 per cent,” he said.
“These are substantial increases in markets that have traditionally offered some of the most affordable opportunities for new homebuyers.
“However, higher borrowing costs, ongoing affordability pressures and some uncertainty around the future tax treatment of investment properties are weighing on buyer confidence.
“The gap between weakening demand and continued price growth is becoming increasingly apparent.”
The 517 sqm vacant block at 43 Glowing Way, White Rock, is for sale for offers over $599,000. Picture: realestate.com.au
On the Gold Coast, the average cost of a block of land shot up $93,000 (11.4%) in the three months to the end of September, to sit at $910,000.
The median lot price on the Gold Coast was also up $185,500 (25.6%) year-on-year.
Logan saw quarterly growth of $15,000 (3.1%) to a new median lot price of $497,000, while Moreton Bay land prices increased $15,000 (2.8%) to a median of $555,000 in the same time.
Ipswich lots prices were also up, rising $11,100 (2.1%) quarter-on-quarter to $542,000.
In Brisbane, the cost of residential land dropped sharply in the September quarter, down $265,000 (21.1%) from an average of $1.255m to $990,000.
However, the median lot price in Brisbane was still $292,000 (41.8%) higher year-on-year.
The Redlands also saw a price decrease in the September quarter, with the average cost of vacant land down $32,400 (4.3%) to $719,000, but up $124,000 (20.8%) in the past year.
The 411 sqm block at Lot 9, 17 Malibu Rd, Lawnton, is for sale for $700,000. Picture: realestate.com.au
Oliver Hume Queensland general manager, Dan Ross said some of the more extreme quarterly price movements in Brisbane and the Gold Coast reflected relatively small transaction volumes and changes in the mix of product coming to market and lots sold, rather than underlying price movements alone.
He said the continued weakness in buyer demand was likely to slow the pace of price growth over coming quarters.
“While the structural shortage of residential land continues to support prices, weaker demand will eventually place downward pressure on the rate of growth,” he said.
“We expect price growth to moderate as the full impact of higher interest rates flows through the market.
“However, without a meaningful increase in the supply of development-ready land, South East Queensland will continue to face significant housing affordability challenges.”
The 475 sqm block at 97 Harbour Blvd, Jacobs Well, is on the market for offers over $799,000. Picture: realestate.com.au
Median Lot Price for South East Queensland – September Quarter 2026
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