Brisbane's property market is back in the lead as the fastest-growing capital city in Australia. The unique interplay of low listing volumes and high buyer demand is fueling price growth, setting Brisbane apart from other markets. Despite a 6.6% price gain since the market bottom earlier this year, Sydney still leads at 8.8%.

Key factors contributing to Brisbane's growth include exceptionally low listing volumes, evident in a 15.6% drop in new listings last month. Total listings also decreased by 22.3%. Tight stock conditions are evident, driving up prices as buyers contend for limited options.

Investor sentiment is strong, with 31% seeing Queensland as offering the best investment prospects. Despite a 19.9% drop in sales volumes, demand remains robust, particularly in the housing and unit sectors. Auction participation has increased, reflecting heightened buyer activity.

Brisbane's dwelling values, as reported by CoreLogic, surged by 1.5% in August, marking the fastest growth nationally. The median value now stands at $747,626, a 37% increase since pre-Covid. Both houses and units experienced positive growth, with the housing market outperforming other capital cities.

In the rental market, vacancy rates are steady at 1%, although rent price escalation is showing signs of easing. House rents increased by 6.9%, and unit rents by 15.4% over the past 12 months.

In summary, Brisbane's property market is on a recovery trajectory, marked by a scarcity of available properties, intensifying buyer competition, and rising prices. As long as limited choices persist, upward price pressure is likely to continue.