Brisbane buyers have something they have not had for a while: breathing room
For several years, buying well in Brisbane often meant making decisions quickly. Strong population growth, tight housing supply and rising prices gave sellers considerable leverage. In mid 2026, that balance has started to change. It would be too early to declare Brisbane a full buyers market, but there is now credible evidence that purchasers have more negotiating room than they did at the start of the year.
The shift matters because it comes after one of Brisbane’s strongest growth periods. PropTrack reported in March that Brisbane home prices were 15.9 per cent higher than a year earlier. By June, the same index recorded a 0.2 per cent monthly fall, taking the median dwelling price to about $1.073 million. It was Brisbane’s first monthly decline in three and a half years. That is not a crash. It is a change in momentum, and buyers should understand the difference.
The May Federal Budget changed the investor equation
The 2026 Federal Budget announced a major change to negative gearing. For established residential property purchased after 7:30pm AEST on 12 May 2026, investors will no longer be able to use rental losses to reduce unrelated income such as salary once the new rules operate from 1 July 2027. Losses can still be used against residential property income and carried forward. New builds retain access to negative gearing under the new framework.
Capital gains tax is changing too. From 1 July 2027, the existing 50 per cent CGT discount will be replaced for affected gains by an inflation based discount and a minimum 30 per cent tax rate. Importantly, the new CGT arrangements apply to gains accruing from 1 July 2027 when realised, while investors in qualifying new builds can choose between the existing 50 per cent discount and the new arrangements. These details matter because headlines saying negative gearing has simply been abolished are wrong.
Buyer demand has cooled, but supply is still not abundant
Cotality’s July 2026 Housing Chart Pack found that buyer demand had cooled and vendors were increasingly moving away from auctions. Across the combined capitals, total listings over the four weeks to 5 July were 7.7 per cent higher than a year earlier. Median vendor discounting had increased to 3.6 per cent, which Cotality described as improved negotiating conditions for buyers.
Brisbane is not an auction dominated city like Sydney or Melbourne, but Cotality said Brisbane and Adelaide were also seeing an increasing preference for private treaty sales as sellers adjusted to weaker demand. That is useful for buyers because a private treaty campaign can provide more opportunity to investigate the property, compare sales and negotiate without the theatre of an auction.
What I am watching in Brisbane’s Inner North
The broader slowdown does not mean every Brisbane suburb has suddenly become cheap. Murray McCarthy’s June 2026 Inner North report shows how strong the preceding year had been. Stafford recorded a median house price of $1.369 million and 23 per cent one year growth. Kedron was $1.58 million, while Alderley was $1.66 million. Unit growth was also strong, including 28 per cent in Alderley.
That is why I would not use one citywide headline to value a property in Stafford, Kedron, Windsor or Wooloowin. A market can cool while the best homes in tightly held streets still attract several serious buyers. Equally, a compromised property that would have sold quickly last year may now sit longer and give a prepared buyer room to negotiate.
Does this mean buyers should start making low offers?
Not automatically. A buyers market is not a licence to ignore comparable sales. The useful change is that buyers may have more time to ask questions and more ability to walk away. The right offer still depends on the property, the campaign, recent comparable sales and the vendor’s expectations.
ABC reporting in July captured the mixed conditions well. Agents and sellers in south east Queensland described weaker investor participation and hesitant buyers, while some vendors were prepared to wait rather than accept a lower price. That is exactly why negotiation needs to be property specific. A softer market does not force every seller to sell.
Interest rates are still a major part of the story
The Reserve Bank cash rate was 4.35 per cent from 17 June 2026 at the time this article was prepared. The RBA’s next monetary policy decision was scheduled for 11 August 2026. Higher borrowing costs have tightened household budgets and reduced the amount some buyers can comfortably pay. Any article published after that decision should update the cash rate before going live.
For buyers, the practical lesson is to base the search on repayments you can manage rather than a maximum approval alone. A little more negotiating power is not useful if the property stretches the household budget too far.
So, is Brisbane finally a buyers market?
I would call it a more balanced market with pockets that are becoming buyer friendly. Prices have softened at the city level, buyer demand has eased, investor tax settings have changed and vendor discounting has increased nationally. Those are genuine changes. But Brisbane still has structural support from population growth, constrained housing supply and major employment and infrastructure investment.
The opportunity is not to wait for someone to announce the bottom of the market. It is to use the change in conditions to be more selective. Inspect more carefully. Compare more properties. Question ambitious asking prices. Know your ceiling before negotiating. The best buyers market is not necessarily one where everything is falling. It is one where good buyers have enough time and leverage to make better decisions.
FAQs
Has the Brisbane property market crashed in 2026?
No. June data showed a modest monthly decline after very strong annual growth. A small fall after a long upswing is not the same thing as a crash.
Did the 2026 Budget abolish negative gearing?
No. The reform limits negative gearing for established residential property purchased after the Budget announcement, with the new deduction rules applying from 1 July 2027. New builds retain the concession and earlier holdings are protected under the announced grandfathering.
Is now a better time to negotiate in Brisbane?
Conditions appear more favourable to buyers than they were earlier in the cycle.
If you’re considering buying on the Sunshine Coast and would like someone representing your interests throughout the search and negotiation, contact Murray McCarthy Buyers Agent for a confidential discussion about your property brief.
