For years, Australia’s greenfield land market has served as the entry point into homeownership; the place where many first home buyers with average household incomes could realistically get on the property ladder.

According to RPM’s April 2026 SEQ Greenfield Market Report, the region’s median land price has crossed $500,000 for the first time (up 26% in the past year and 86% since March 2022). Combined with an average build cost now also exceeding half a million dollars, a typical house and land package in Greater Brisbane sits at approximately $1.01 million.

“The greenfield sector used to be the great equaliser. It was how average households got their foot in the door. That door is still open, but the step up is getting too high,” says RPM Managing Director for QLD & NSW Clinton Trezise.

RPM’s data makes clear that the affordability pressure in SEQ’s greenfield market is a direct result of high demand and low supply. Sales volumes in key catchments reflect less than one month of available supply. The clear constraint is a lack of new land.

Greater Brisbane’s established market sits at near record lows. In March 2026, the city recorded just 2,662 rental vacancies and 13,832 properties listed for sale, compared to respective averages of 9,371 and 30,237 between 2016 and 2020. That profound tightness in the established market is flowing directly into greenfield demand, at a level above what population growth alone would generate.

Queensland added 97,347 new residents in the year to September 2025, growing at 1.8% against a national average of 1.6%, further adding to the squeeze.

Want the Full Picture?

This article draws on findings from RPM Group’s SEQ Greenfield Market Report – April 2026. Access the complete data and market forecasts in the full report.