Where All Property Types Are Firing

Queensland has overtaken Western Australia to become Australia’s strongest multi-sector property market for the first time, according to the Australian Property Institute quarterly survey.

Australian Property Institute Chief Economist Dr Sherman Chan says Queensland is the only state where residential, office, retail, industrial and agricultural property markets are all in positive territory.

Despite the strong quarterly result, it is Adelaide which has emerged as the strongest residential property market over the past two decades.

Its capital city house prices are up 175% over the past 20 years, ahead of Hobart (172%) and Sydney (171%).

Brisbane and Melbourne are both up 169%, Canberra, 154%, Perth 123% and Darwin 102%.

By comparison, inflation is up by 67% over the same period.

The report says Australia’s agricultural land has emerged as the best performing property sector over the past two decades, with Tasmania, Victoria and Queensland all recording above average growth.

Between 2005 and 2024, the average annual return for agriculture was 12.8%, while industrial land returned 8.2%, residential 7.7%, and commercial 7.2%.

In the commercial property market, Sydney is the strongest performer over the past 20 years with its values up by 176%, followed by Perth, Melbourne, Brisbane, Adelaide and Canberra.