Brisbane rental prices have hit a new peak in June, with unit growth overtaking housing while the property market has stalled.
The latest realestate.com.au market insight report found Brisbane’s median advertised rent has jumped to $695 a week, a 2.2 per cent rise from last quarter.
This is up 6.9 per cent compared to this time last year, when weekly rent sat at $650.
Brisbane’s rental prices have hit a new peak in June at $695 a week, rising 2.2 per cent from the March 2026 quarter. Picture: iStock
REA Group economist Luc Redman said every capital experienced “widespread price growth” in rents the past quarter, despite ongoing economic conditions affecting property values.
“The rent increases occurred despite a small increase in the rental vacancy rate over the same period,” he said.
“The May federal budget which announced sweeping changes to investor tax settings, occurred in the middle of the quarter, so the full impact on the rental market is yet to be seen.”
REA Group senior economist Luc Redman said the full impact of events such as the new federal budget announcement were yet to be seen.
Since the federal government announced new restrictions on negative gearing and a new Capital Gains Tax, the property market across the country has come to a standstill.
Brisbane experienced its first fall in its median home price in three and a half years, while auction clearance rates have hit lows not seen since the aftermath of ex-cyclone Alfred.
Brisbane houses had no change in rental price at all since last quarter.
Treasurer Jim Chalmers brought forth the latest federal budget in May, which included changes to negative gearing and the Capital Gains Tax. Picture: NewsWire / Martin Ollman
The capital’s median weekly rental price for houses remained at $700, while unit prices jumped 1.5 per cent to $660.
Overall, rental prices experienced a larger rise this quarter than the last, which had a 1.5 per cent shift to $680 a week.
The report for the March 2026 quarter revealed house rents went up by 1.4 per cent to $700 a week, with no increase for weekly unit rents at $650.
Rental prices for houses have not moved this quarter, with units overtaking the market instead at a rise of 1.5 per cent.
Mr Redman said despite fluctuations in the housing market, rental houses were generally still in higher demand than apartments.
“Rental prices for units are lower across most markets except for Melbourne, where rent for a unit is more expensive than for a house, suggesting renters prefer location over property type,” he said.
Rental growth in regional Queensland had a smaller jump than Brisbane this quarter, going up 1.5 per cent to $690 a week.
Unit prices fared the best with 4.6 per cent quarterly jump to $680 weekly. Meanwhile, houses continued to rise despite larger market conditions, moving up 0.7 per cent to $695 a week.
Regional Queensland performed well over the quarter, with units in particular seeing a jump of 4.6 per cent.
“While the [rental] vacancy rate has edged higher, the expected decrease in investor demand due to the budget’s tax changes could slow the pace of new supply, putting further pressure on rents,” Mr Redman said.
“Capital city rents are now $40 per week higher than 12 months ago, when rental growth had flattened in most markets.”
Nationally, rents increased by 6.4 per cent, with the median rent sitting below Brisbane prices at $670 a week.
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