City Beat February 2025: Brisbane unit market outperforms houses as government abolishes stamp duty for first home buyers

Brisbane's unit market continues to see impressive growth in 2025.

After reaching a four-decade high in 2024, with a remarkable 16.6 per cent growth—the highest calendar year increase since the mid-1980s—Brisbane units have sustained their momentum.

According to CoreLogic's latest Home Value Index, unit values rose by 0.7 per cent in February, making it the second-best performing capital city unit market. This follows strong growth of 0.6 per cent in January and 0.8 per cent in December, demonstrating consistent upward movement.

The median unit price in Brisbane is now approaching $700,000, up from $568,000 at the start of 2024.

Unit values have consistently outpaced house prices, with house values remaining flat in February.

Brisbane’s performance aligns with broader national trends. While many capital cities began experiencing negative growth in the latter part of 2024, the February interest rate cut has reignited demand, reversing some of these declines.

What happened in Brisbane’s off the plan apartment market in February?  

A major policy shift was announced in February that will significantly impact Brisbane’s new apartment market. 

The Queensland Government revealed that first home buyers purchasing a new property will no longer have to pay stamp duty, removing a major upfront cost that has long been a barrier to homeownership.  

The policy aims to increase home ownership rates in Queensland, which have been at their lowest in the country over the past decade. 

The move is also expected to provide a boost to new apartment sales, particularly in Brisbane, where demand from first home buyers is strong.  

Read more: First home buyers to pay no stamp duty on new property in QLD Gov shakeup

February saw Sekisui House Australia reveal Callista on Park, the final stage in their thriving West Village precinct.

After nearly a decade of transforming the former Peter's Ice Cream Factory site in Brisbane's West End, Sekisui House Australia has unveiled the final opportunity to buy into the thriving West Village community.

Rothelowman has designed Callista on Park, a mix of two, three and four-bedroom apartments across a 14-level building.

The plans were rejigged to shift the majority of the building amenity to the roof, giving future Callista residents a rooftop retreat with extensive views of the Brisbane CBD skyline.

The name Callista on Park has European origins. "Callista," meaning "most beautiful" in Greek, honors the West End area's strong Greek community from the 1980s. It signifies "most beautiful" because it represents West Village’s most premium offering. "On Park" reflects its prime location, fronting Mollison Park, a central green space that hosts events such as the annual Brisbane Ice Cream Festival, pizza and pinot evenings, gardening workshops, and fashion events. It is also situated next to the historic Peters Ice Cream building, home to West Village’s popular farmers market.

Read more: West Village final stage revealed as Callista on Park launches to the market

The demand for more premium apartments in Brisbane has also been evident in Toowong where Consolidated Properties has secured the majority of sales of its penthouse collection at Monarch Residences.

Just two penthouses and a river home are left in the riverfront development after nearly $50 million in penthouse sales. The majority of buyers have been local downsizers.

The final remaining residences, priced from $4.4 million in Monarch which is currently under construction through Hutchinsons and will be completed by the end of the year.

Read more: Penthouses snapped up at Toowong's Monarch Residences