Queensland has become Australia’s strongest property market for the first time, overtaking Western Australia in the latest Australian Property Institute (API) Property Directions Survey.
The state recorded an overall score of 6.6 for the third quarter of 2026, despite easing from 7.5 the previous quarter. Queensland was the only state where all five major property sectors remained in positive territory, with residential, industrial, agricultural, retail and office markets all posting positive results.
API Chief Economist Dr Sherman Chan said Queensland’s balanced performance set it apart, with strong population growth and infrastructure investment continuing to support the market.
The survey found residential demand remained strong due to population growth and limited housing supply, while industrial property benefited from low stock levels. Office and retail markets also remained positive.