Brisbane's median house value closed the year around $870,526. Worth sitting with that number for a second, given everything that happened alongside it. The fastest run of rate hikes in decades. Cost of living pressure everywhere. Constant talk of a looming correction that never showed up.
None of it moved the median down. If anything, the story of 2023 in Brisbane is how little the traditional levers mattered against a housing shortage this deep.
I don't say that to sound bullish for the sake of it. There are real risks sitting underneath this number, borrower stress, builder insolvencies, a rental market that's genuinely hurting people who can't find a place. But the price data itself tells a simple story. Demand outran supply all year, and nothing else came close to changing that equation.