Queensland’s population growth remains a key driver of housing demand

In the year to March 2025, the state added nearly 99,000 new residents, growing 1.8% and outpacing the national average of 1.6% Overseas migration continued to lead the way, contributing more than half of the increase, while interstate migration added another quarter and natural increase accounted for the remainder. While arrivals from overseas have eased from last year, they remain above long term averages, sustaining demand for both rental and owner occupied markets.

Greater Brisbane illustrates the tension between growing demand and limited supply. Rental vacancies are just 0.9%, far below the 3% threshold considered healthy balanced market. New dwelling registrations fell 16% over the year, while established house listings dropped 8%.

 

The housing supply shortage is being amplified by population growth, which is keeping prices elevated and stock turnover constrained. 

Building approvals have improved over the year to September 2025. House approvals remain steady, but apartment approvals jumped 26%, signalling confidence in higher density projects despite feasibility pressures due to high construction costs.

Lot supply across SEQ is at the lowest level in more than a decade. Detached lot registrations fell to just over 8,000 in FY25, with Ipswich and Moreton Bay seeing the steepest declines. Annual demand is roughly 34,500 lots, leaving a shortfall of nearly 13,000.

Available stock is concentrated in higher priced segments, leaving many households unable to access entry level lots. 

Logan, Moreton Bay, and Ipswich are particularly constrained, where stock levels are well below the three month level considered balanced. People are still moving into SEQ in strong numbers; housing supply is struggling to keep up, and gradual rate cuts have increased purchasers’ serviceability and budgets.

As a result, we are seeing more people competing over less stock with more money to spend; with the inevitable result of rising prices. New available lots tend to be priced higher on each release leaving many buyers waiting on the sidelines.

This article references findings from our December 2025 SEQ Greenfield Market Report. Read the full report here.