Gold Coast home prices are officially down for the first time in almost four years, with global uncertainty, interest rate hikes and controversial tax changes putting the brakes on the property market.
The latest PropTrack Home Price Index for June 2026 revealed the Glitter Strip’s median price is $1.18m, down 0.3 per cent.
The Gold Coast’s median home price has dropped for the first time in nearly four years, according to PropTrack’s latest Home Price Index. Picture: Supplied
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PropTrack senior economist Anne Flaherty said the changes signalled a shift in the city’s property market in favour of buyers.
“I think that it’s absolutely been a seller’s market for quite a long time in Brisbane [and] the Gold Coast,” she said.
“We’re starting to see the tables turn. It looks like we’re starting to transition to more of a buyer’s market.”
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PropTrack senior economist Anne Flaherty said the change could mark the return of a buyer’s market in the Gold Coast.
The change has come after the Reserve Bank of Australia rose the national interest rate three times this year, now sitting at 4.35 per cent.
Meanwhile, the federal government announced changes to negative gearing and the Capital Gains Tax in April, designed to steer investors away from buying existing homes.
Ms Flaherty said these factors, along with continued cost of living pressures, had likely scared buyers out of the market.
“There are still a healthy amount of homes going on the market,” she said. “We’re seeing vendors have to adjust their price expectations downwards, so I think there’s a lot of opportunity out there.”
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Th Glitter Strip’s median price is currently $1.18m, with vendors beginning to adjust their price expectations following the market shift.
The last time the Gold Coast dropped in median home price was in August 2022, when it shrank by 0.3 per cent.
Today, the city’s annual growth has risen by 8.46 per cent, with a median home price larger than Brisbane’s.
Brisbane’s home price also dipped 0.2 per cent to $1.073m – the first drop since November 2022.
Meanwhile, Queensland’s regional markets continued to rise. The median home price in Cairns managed to rise 0.01 per cent, while Townsville performed best at a 0.12 per cent jump.
Regional markets such as Townsville have continued to do well, despite falling prices in the state’s biggest cities.
Ms Flaherty said the full impact of the federal budget remained to be seen, as investors and owner-occupiers could start to look outside of Brisbane for new properties.
“Regional markets outperformed capitals over both the month and the year,” she said.
“Similarly, units have recorded smaller declines over the month compared to houses, and have seen stronger growth over the year.
“Looking ahead, affordability is likely to remain a key driver of market performance, with the share of buyers looking to purchase in more affordable areas, such as regional markets, expected to increase.”
Happy Buyers Club CEO Sam Hunter said the change in the market was a healthy sign for Australia, considering the speed in which prices had been rising.
CEO of buyers agency Happy Buyers Club Sam Hunter said the news marked a positive change for the housing market.
“The latest data suggests we’re heading back towards something that resembles a normal market,” he said.
“Prices are finally stabilising. That’s not bad news.
“Eight weeks ago people were happy to pay a five per cent premium just because there was competition, and now they’re cautious to buy something for what it’s worth because they’re the only offer. That’s just human nature, and this market feels more like 2022 than 2009.”
Brisbane’s home price dropped by 0.2 per cent in June, while the national median price fell by 0.9 per cent.
Prices fell for the third month in a row nationally, dipping by 0.3 per cent in June.
The nation’s median price is now $903,000 – 0.9 per cent lower than its peak in March, when the year’s second interest rate hike was announced.
Prices across all capital cities have dropped by 0.4 per cent, with Sydney and Perth seeing the largest dip at 0.5 per cent.
Darwin was the only capital city to see its median rise, going up 0.2 per cent.
