380 homes sold over $5M – Brisbane in demand

Queensland’s prestige market has hit new heights, with a record 380 prestige home sales ($5M+) in 2024, up 25.4% year-on-year and a massive 363% jump since 2019.

Think about that for a moment: 380 Queensland homes sold for more than $5M just last year.

According to Westpac Private Bank’s Prestige Property Report 2025, 47 of those sales were in Brisbane, tightly concentrated within 5km of the CBD in Hamilton (14 sales), New Farm (12 sales) and Ascot (10 sales). 

This is the backyard of our Ray White Collective. These suburbs are Brisbane’s equivalent of Sydney’s Eastern Suburbs or Melbourne’s Toorak/Brighton. The numbers clearly show Brisbane is no longer viewed as a secondary player to its southern states.

Brisbane prestige sales surged 25% in a year, fuelled by lifestyle-driven demand and intense competition for riverfront homes and tightly held precincts. My selling suburbs are at the centre of this momentum, and are clear proof of ongoing strength and resilience in our market.

Brisbane’s prestige sector has never been stronger, which sets the stage perfectly for Ray White Collective’s Prestige Auction Event on November 1. Two years ago at this event, we sold eight properties under the hammer between $5M and $9.91M. This year, your property could be next. Leveraging a targeted strategy powered by our Collective offices and prestige network, your home will be seen by every serious buyer, whether active or passive, local, interstate, or international. This is a rare opportunity to put your property in front of a captive, high-end audience ready to act. If you’re considering selling, now is the time.

Reach out if you have questions or would like to discuss any of the above.

I hope you enjoy the read.

Matt Lancashire