Brisbane’s $5M club

So the RBA decides to hold firm on the cash rate…meh. 

The vital signs of Brisbane’s prestige property market are so strong, it appears unlikely that anything is going to negatively impact the health of this elite, yet widening, bubble. 

In the past week we’ve sold two properties prior to auction. These aren’t run-of-the-mill million-dollar listings, but niche multi-million-dollar blue-chip offerings. A transformed character residence at 75 Langshaw St, New Farm has exchanged hands for $5.45M, while an exemplary family home at 21 Mayfield St, Ascot has been purchased for $7M+. Remember, both were secured BEFORE auction. 

While this level of demand for high-end housing in Brisbane may still be surprising to some, my team and I are managing requests for $5M+ properties on a daily basis. What may be even more startling, is that these homes not only exist and are being built in large numbers, but many are worth up to and possibly beyond four times that magic $5M mark. 

Of course, mainstream media has been flogging the surge in Brisbane median house prices, which has now passed $1.05M (June, 2025) but not so highly spruiked is the incredible thirst for our city’s ultra-luxury market…until now. 

A Herron Todd White “Month in Review” edition, released at the end of 2024, highlights Brisbane’s healthy upper-end market, specifically the numbers backing what I’ve said above. According to their data, Brisbane recorded 86 residential sales over $5M during the 2024 calendar year, driven by limited supply, intense demand in prestige locations, and a desire for turnkey luxury. Due to the strong competition, many of those sales occurred off-market. This figure was a significant increase on the 78 $5M+ transactions in 2023. 

Remember, these numbers present an intriguing snapshot of previous years, not including the past seven months which have exceeded all expectations. I can only foresee another record year in regards to the volume of remarkable top-end sales across Brisbane.

I hope you enjoyed the read.

Matt Lancashire