Brisbane Dwelling Prices Outpace Melbourne Amid Pandemic-Driven Migration Surge

This change reflects Brisbane’s newfound competitiveness and challenges its previous perception as the ‘poor cousin’ to southern capitals.

Balconies seen at apartments in Southbank in Brisbane, Australia on Jan. 11, 2021. Jono Searle/Getty Images

Surging interstate migration has propelled Brisbane’s average dwelling price above Melbourne’s, marking a significant shift from its previous reputation as a “poor cousin” to the southern capitals.

Since the onset of the pandemic in March 2020, the average dwelling price in Brisbane has surged by 50.2 percent from $500,000 to around $787,000, surpassing Melbourne’s average for the first time since July 2009 by $7,000.