Brisbane apartment completions to hit record highs since 2018

The city is expected to record over 3,000 completions this year.

According to a JLL report, Brisbane’s apartment market has already seen more completions in 2025 year to date, than any of the last five full years. Year to date there have been 1,947 completions, and there are projects to be over 1,250 more before the end of the year.

In addition, the report revealed that 2025 will be the first year since 2018 to see over 3,000 completions annually. Some of this is due to delays in completions from 2024.

Here’s more from JLL:

Apartment sale prices are starting to see a slowdown in the rate of growth however this is still at very high levels. Median apartment sale prices increased 19.3% in the 12-month period to the end of Q2 2025. In contrast to the house market in Brisbane saw a median price increase of 10.1% over the same period.

Brisbane’s apartment rental market has remained stable through Q2 2025, with annual growth now at 7.1%% across the apartment market. This growth remains high when compared to other capital cities across Australia and is a testament to the demand for residential property in Brisbane.

Cash rate cuts are likely to put additional pressures on the apartment market

Rental vacancy has decreased slightly to 0.9% over the quarter across Greater Brisbane and remains a tight market. Renters are increasingly staying put with the number of new apartment leases at a 10-year low.

Activity in the existing market is expected to remain subdued with owners holding steady to maximise capital growth, and tenants staying put to minimise rental increases.

Outlook

The housing market is likely to continue experiencing significant pressure. While the supply pipeline is growing a supply and demand imbalance is likely to persist in the short term. Population growth and further cash rate cuts are expected to continue fuelling sale price growth.

Rental pricing is expected to see modest, yet consistent growth into the medium term. Spillover rental demand from the ownership market will grow as sale prices climb, and even with reduced borrowing costs, become increasingly unaffordable.