Brisbane is increasingly standing out on the global stage.
The city is outperforming Australia’s major office markets and ranks among the strongest globally for rental growth. Importantly, this performance is occurring while Brisbane continues to offer attractive relative yields, supported by Queensland’s population growth, economic diversification and significant infrastructure investment.
For global investors assessing opportunities across markets, the combination of income growth, relative value and strong long-term fundamentals is increasingly setting Brisbane apart.
Brisbane is ranking in the top 5 cities globally
Brisbane has emerged as one of Australia’s strongest performing office markets, with its rental performance also ranking among the strongest globally.
Prime net effective rents increased approximately 19% over the year to Q2 2026, more than twice the growth recorded in Melbourne and almost five times Sydney.
Despite this outperformance, Brisbane’s 7.44% prime office yield remains above Sydney, Melbourne and Perth.
For investors, this creates a distinctive combination of strong income momentum and attractive relative pricing. While higher growth markets would typically be expected to trade at tighter yields, Brisbane continues to offer a yield premium to Australia’s other major office markets.
Structural growth supports the story
Brisbane’s property performance is underpinned by a broader Queensland and South East Queensland growth story.
Queensland continues to outpace national population growth, while South East Queensland is forecast to reach 6 million residents by 2046, supporting around one million additional jobs and requiring close to 2 million square metres of additional office space.
The economic base is also broadening. Healthcare, professional services, finance and transport are expected to make an increasing contribution to growth over the next decade, creating a deeper and more diverse occupier base.
Professional services and finance alone are forecast to add approximately $24 billion in combined real GVA by 2035.
Supply remains constrained
Brisbane’s rental outperformance is occurring against a limited near-term office development pipeline.
Rising construction costs and higher development hurdles continue to constrain new supply, while occupier demand for higher quality space remains strong.
This combination of improving demand, limited new supply and higher barriers to development provides a supportive backdrop for existing assets and Brisbane’s rental outlook.
Infrastructure is supporting the next phase of growth
More than $119 billion of infrastructure investment is planned across Queensland, extending beyond 2032.
Major transport and city-shaping projects will improve connectivity and support the continued expansion of South East Queensland.
Brisbane 2032 provides an additional catalyst, bringing a fixed delivery timetable to infrastructure and urban renewal projects that have the potential to generate economic and property benefits well beyond the Games themselves.
Why now?
Brisbane’s income growth has moved materially ahead of asset pricing.
At Q2 2026, Brisbane prime net effective rents were approximately 66% above Q1 2018 levels, while prime capital values were around 22% higher.
This divergence is increasingly important as investment markets stabilise. Brisbane’s income fundamentals have strengthened considerably, while asset pricing is yet to fully reflect that improvement.
Combined with strong relative rental performance, attractive yields, constrained supply and Queensland’s structural growth, Brisbane occupies a compelling position in the investment cycle.
Brisbane’s outperformance is established. The next phase is yet to be fully priced.
Income growth has moved ahead of asset pricing
Brisbane CBD prime office, Q1 2018 = 100
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