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The premium property market in southeast Queensland, particularly the Gold Coast and Brisbane, is experiencing very high demand and rapid price growth, with the Gold Coast median price doubling over five years. The top end of the market is the primary driver of this strength.

The premium end of the Sydney and Melbourne housing markets is struggling, with prices moderating and buyer caution increasing, driven by rising interest rates and visible fuel price inflation impacting consumer sentiment. The top end of these markets is more sensitive to interest rate changes because buyers, even at that level, often rely on large mortgages.

The bottom 25th percentile (affordable segment) of the Sydney and Melbourne housing markets is experiencing strong price growth (12-13%) due to generous first home buyer incentives like the 5% deposit scheme and a persistent lack of building supply. This segment is being buoyed despite broader market headwinds.