It is now more expensive to buy a block of land in Greater Brisbane than in Melbourne, new research reveals.

The median land price in southeast’s Queensland surged by 11 per cent in the first quarter of 2025 to $437,900, overtaking Melbourne for the first time, according to data from property services group Oliver Hume.

Oliver Hume chief economist Matt Bell said southeast’s Queensland’s affordability advantage over Melbourne had been completely eroded, with the median land price exceeding Melbourne’s median of $408,000 for the first time.

“This loss of its historically significant affordability advantage over Melbourne is likely to mitigate the impact of rate cuts and ongoing population growth,” he said.

“We still expect resilience in the southeast Queensland market, with interstate and overseas migration levels to remain strong and falling interest rates to support sales rates and median price growth.”

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Oliver Hume’s latest Quarterly Market Insights report for the March quarter, which analysed nearly 1,200 sales in Greater Brisbane, showed the median price per sqm of land jumped to more than $1,000 for the first time to $1,043 per sqm.

Brisbane, Ipswich, Logan and Moreton Bay all recorded annual price growth ranging between 16 per cent and 30 per cent.

Annual price growth for the past 12 months ballooned to 27 per cent, soaring past the 8.6 per cent rate of change in the price of established homes in Greater Brisbane.

The report revealed Logan recorded the most land sales in southeast Queensland while the biggest price growth was recorded in Ipswich (11 per cent), Moreton Bay (10 per cent) and Redlands (5 per cent).

Ipswich’s strong price growth was due to limited supply from large projects.

Oliver Hume Queensland general manager Dan Ross said the report showed Logan had regained its position as the most affordable growth corridor in southeast Queensland.

“We saw several significant projects in Logan return to market with more affordable stock and seeing median price growth rate moderate over the last quarter,” he said.

Despite the continued price strength, the total sales volume was almost unchanged from the previous quarter.

The median lot size sold across southeast Queensland remained at 420 sqm.

Melbourne’s significantly lower median lot size means that in terms of price per square metre, it still holds a slight premium over southeast Queensland.

The post Greater Brisbane land values surge, passing Melbourne for the first time appeared first on realestate.com.au.

An interstate buyer has splashed $10.3m on a riverfront mansion set over a prized half-acre parcel in one of the Gold Coast’s most exclusive locations.

The Sydney-based buyer was eyeing Main River properties, and was eager to secure the home at 211-213 Monaco Street, Broadbeach Waters, before it hit the market.

The deal was handled by Ray White Prestige agent, Jay Helprin, with the buyer represented by Luke Serhan, of Cohen Handler Gold Coast.

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Mr Serhan said the buyer, whose identity was not disclosed, was a medical professional relocating to the Gold Coast to be closer to family.

“My client was moving from harbour views in Sydney and really wanted their piece of Main River real estate.”

Set on a 2,076 sqm parcel between the river and parkland, the 2018-built property

features a hotel-style pool with expansive waterfront views.

The house has five bedrooms and five bathrooms, with luxurious indoor and outdoor entertaining spaces, a home cinema, office and spiral staircase.

Features included stonework and manicured lawns, parquetry floors, and a formal dining area with a fireplace, bar, and wine cellar.

The tightly held Monaco Street Main River precinct continues to outperform thanks to its exclusive positioning and significant land holdings, with off-market transactions becoming a

dominant force in the luxury space.

“Off-market deals account for nearly 40 per cent of high-end property transactions across the Gold Coast, as more prestige owners opt for discretion,” Mr Serhan said.

“With rising build costs reaching up to $12,000 per square metre in the prestige sector, the opportunity to secure a 2018-built home of this calibre — over 1,000sqm under roof, on a rare half-acre block with suspended slab construction — not only offers exclusivity but represents exceptional long-term value.”

Mr Helprin described the property as a “grand-scale family estate”, and said the sellers did not have their house listed for sale but received an offer too good to pass up.

“Monaco is considered one of the most prestigious and desirable streets on the Gold Coast,” he said.

“I’ve known the sellers for a while, and I approached them because I knew there was someone looking to buy on the street.

“Opportunities are few and far between for high-end homes like this, and the buyers knew if they found a house they loved they had to act on it.”

The sellers had bought the land for $2.5m in 2012.

PropTrack data shows house prices in Broadbeach Waters were up 15.3 per cent over the past year, to a median of $2.35m.

The post Sydney buyer’s hushed riverfront cash splash appeared first on realestate.com.au.

Concierge Auctions‘ 2025 Luxury Home Index reveals a market at a crossroads.

Prices remain high and inventory is tight. Demand hasn’t vanished, but luxury properties are taking longer to sell, listing discounts are widening and macroeconomic shifts are reshaping buyer behavior.

“Luxury hasn’t collapsed,” said Chad Roffers, CEO of Concierge Auctions. “But the fantasy pricing days are done. This market is honest — and it’s not always kind.”

Prices are up, but the peak has passed

Company data shows that sale prices for luxury properties rose 4.7% year over year.

That follows a steady 10-year trend. Prices are up 44.2% compared to 2015, representing average annual growth of 3.7%. But Roffers said the market hit its high-water mark three years ago.

“We peaked in 2021. That was the moment when everything lined up,” he said. “There was cheap money, COVID migration, zero inventory, and everyone racing to buy something with a pool. Since then, prices are still strong, but there’s gravity now.”

Buyers are still paying top dollar for prime properties in certain markets, but fewer are willing to chase prices into the stratosphere, Roffers said.

Gaps between list and sale prices

One of the most striking findings of the report is the growing divergence between what sellers ask for and what buyers are willing to pay.

On average, luxury homes sold for 13% below their initial listing price in 2024. That gap becomes even more pronounced the longer a home sits on the market.

For homes that sold within 180 days, sellers realized 94% of their original list price. For those on the market longer than 180 days, that number dropped to 81%.

“People still list properties based on what their neighbor got two years ago, or based on emotion,” Roffers said. “But this market punishes you for that. If you don’t price right out of the gate, you’re going to chase the market down.”

In 2024, the average luxury property took 319 days to sell, compared to the national median of just 60 days.

The longer timeline has consequences. Roughly one in eight homes took more than 600 days to sell. About 4% sat on the market for over 1,000 days — or nearly three years.

“There are a lot of ‘showpiece’ listings that look great in photos but aren’t priced to move,” Roffers said. “Eventually they find a buyer but often at a huge haircut.”

Homes that sold quickly — within 180 days — averaged only 89 days on market and held more of their original value. By contrast, homes that exceeded 180 days on market averaged 514 days and saw sharper price declines.

“It’s like produce,” Roffers said. “It has a shelf life. If you don’t get offers in the first three months, buyers start wondering what’s wrong with it. Then come the lowballs.”

Inventory remains tight

Despite longer sales timelines, inventory hasn’t ballooned. The report shows that supply remains constrained in many key luxury markets, which has helped keep prices elevated.

“Inventory’s tight everywhere,” Roffers said. “Sellers aren’t racing to list. A lot of them are sitting on low-interest mortgages and don’t want to trade into something more expensive.”

That scarcity has created pockets of competition, but only for move-in-ready, well-located homes.

Regional performance varied widely. The strongest growth came in Florida, the southern U.S., and coastal portions of the Northwest. Prices fell slightly in Southern California, New England and the broader East Coast region.

“Florida’s still crushing it,” Roffers said. “Between taxes, weather and lifestyle, there’s just no slowdown there. You’ve got both domestic and international buyers coming in strong.”

But other markets have cooled.

“The Northeast has a problem,” he added. “Buyers aren’t rushing to pay $10 million for a historic home in Connecticut anymore, especially when taxes are high and winters are brutal. It has to be truly special to justify the number.”

In the Mountain West and Southwest regions, enthusiasm is moderating.

“The Aspen and Jackson Hole frenzy has definitely chilled,” Roffers said. “People who bought during COVID are now rethinking whether they want to be snowbound eight months a year.

“Austin boomed during COVID, but the luxury market’s correcting. You can’t ask $12 million for a modern farmhouse in a place that didn’t have a luxury tier a decade ago.”

U.S. buyers looking abroad

International buyers remain active in the U.S., but Roffers notes a new wrinkle: Americans are looking abroad too.

“There’s been a noticeable uptick in U.S. buyers asking about France, the U.K. and Portugal,” he said. “The idea of buying a pied-à-terre in Paris or a villa in Provence is appealing when the dollar is strong and interest rates are high at home.

“We’re also seeing more overseas clients buying in the U.S. — especially Miami, L.A. and New York — but they’re extremely selective. They’re not playing catch-up anymore. They’re waiting for value.”

Private listings, interest rates, fraud

The Clear Cooperation Policy has made it harder to keep listings off the MLS, but the private market continues to thrive quietly behind the scenes.

“There’s a lot of whisper listing activity,” Roffers said, “especially for high net worth clients who don’t want exposure or who are testing pricing. Everyone knows the rules, but there are workarounds. Discretion is still a major selling point.”

High interest rates continue to shape the market — not by freezing ultra-wealthy buyers who often pay in cash but by shifting their expectations.

“Even if you’re paying cash, rates matter because they affect opportunity cost,” Roffers said. “A hedge fund guy will ask, ‘Why put $10 million into a beach house when I can get 5% on Treasurys?’ So they negotiate harder.”

Economic uncertainty has also made buyers more cautious.

“There’s an undercurrent of unease,” Roffers added. “People are watching the election, geopolitical stuff, market volatility. No one wants to feel like they bought at the top.”

Another factor weighing on luxury clients is a rise in title and deed theft concerns.

“We’re seeing more buyers asking about title insurance and fraud protections,” Roffers said. “They’ve heard stories — fake sellers, identity theft, even AI-generated documents. The more valuable the asset, the more attractive it is to scammers.

“Most luxury sellers or potential sellers own their home outright, and that creates a huge vulnerability to bad actors compared to someone who has a mortgage. It’s much harder to do that to someone with a mortgage.”

Retired racing car driver and former Total Tools boss Paul Dumbrell has wrapped up the sale of a beachside Bellarine Peninsula home he originally planned to bulldoze.

Records show the Bathurst 1000 champion traded the five-bedroom house overlooking 13th Beach in Barwon Heads for $7m.

His family splurged a combined record $10.2m on the exclusive 1275sq m property at 2 Stephens Pde and an older neighbouring home during the Covid coastal boom of 2020.

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The prized location, wedged between Barwon Heads Golf Club and the dunes, was intended to be the site of a new $6m luxury beachside mansion.

But plans to demolish both existing houses to build a contemporary double-storey, seven-bedroom pad with basement parking for seven cars and an underground gym hit a snag when the City of Greater Geelong rejected the proposal.

Both properties were relisted for sale separately through Bellarine Property, Barwon Heads agent Christian Bartley early last year, with a combined asking price upwards of $13m.

The newer Swaney Draper architect-designed residence constructed from rammed earth, sandstone and timber at No. 2 was the pricier part of the package, advertised with $7.8m to $8.5m price hopes.

Designed to blend into its natural surrounds, the house has commanding ocean views and a north-facing entertainer’s deck overlooking the golf course’s seventh fairway.

A path directly across the road delivers you to 13th Beach within minutes.

The property was withdrawn from sale in July but is understood to have later changed hands in a private off-market deal.

Mr Bartley, who was not involved in the sale, declined to comment.

He did, however, help broker the $3.3m sale of its four-bedroom weatherboard next door neighbour at 4 Stephens Pde, Barwon Heads after a seven-month campaign.

At the time he said the new owners also planned a knockdown rebuild to capitalise on untapped views.

Earlier this year Mr Dumbrell and his stepmother Lisa also sold a luxury Portsea pad for $5.7m.

The successful businessman won two Super2 titles and seven Supercars Championship races before retiring from racing in 2018.

He later became chief executive of Total Tools and in January this year was appointed chief executive of civil and construction supplier Jaybro Group.

The post Retired Supercars champion Paul Dumbrell finds buyer for beachside Barwon Heads pad appeared first on realestate.com.au.

A surge in commercial real estate transactions helped drive solid first-quarter 2025 earnings for the country’s largest title insurers.

First American Financial, Fidelity National Financial, Old Republic International and Stewart Information Services all reported year-over-year gains in commercial title revenue. Leaders at each company pointed to improved demand and strategic investments in growth.

First American

First American reported strong first-quarter results, led by a 29% year-over-year increase in commercial real estate revenues and a rebound in title insurance activity.

“The commercial side of the business, which began declining in the second half of 2022, is seeing meaningful improvement,” CEO Mark Seaton said. “Commercial volume started picking up in the second half of last year, and the momentum continues into 2025.”

Seaton added that while broader economic uncertainty around tariffs, interest rates and inflation could slow some deals, First American is well positioned to weather a storm.

He noted that while the residential side of the business remains historically weak, it appears to have bottomed out.

“Real estate goes in cycles, and we’re at the very beginning of the next cycle,” Seaton said. “I believe residential originations have hit a bottom, and now we can debate the path and pace of growth.”

First American’s adjusted pretax margin in the title segment improved to 7.9%, up from 4.8% a year earlier, bolstered by stronger order volume and commercial pricing.

Investment income rose 18% to $138 million, largely on higher yields, while agent premiums, which are reported on a delay, rose 16%.

Seaton, who recently stepped into the CEO role following the departure of Ken DeGiorgio, emphasized his long-term confidence in the company’s direction.

“I’ve been a part of the First American family for nearly 20 years, and it’s an honor to serve the company as its chief executive,” he said. “Given our extraordinary people and unique competitive advantages, I firmly believe our best days are yet to come.”

Fidelity National

Fidelity’s title insurance business saw double-digit growth in revenue and adjusted earnings.

The company’s title segment generated $1.8 billion in revenue in Q1 2025, up from $1.7 billion in the same period last year. Excluding market-related gains and losses, revenue rose 12%, driven by gains across residential, commercial and refinance transactions.

Adjusted pretax earnings for the title division reached $211 million, a significant jump from $171 million in Q1 2024. Fidelity also posted an adjusted pretax title margin of 11.7%, up from 10.7% a year ago.

“Our improved margin is a testament to our employees as well as the operational efficiencies that we have achieved over the last few decades through investments in technology,” Fidelity CEO Mike Nolan said.

Nolan added that Fidelity’s long-term investments are paying off through strong performance in a period of historically low transaction volumes.

“We also continue to generate strong free cash flows during this period, enabling us to maintain a dynamic capital allocation strategy that balances investing in growth with returning capital through dividends and repurchases,” he said.

Commercial title revenue rose 23% to $293 million, while refinance order volume surged 33% year over year.

Old Republic

Old Republic’s title insurance segment posted double-digit growth for premiums in Q1 2025 as well as higher operating income.

Net premiums and fees earned in title rose to $605 million from January through March — a 10.9% yearly increase. That was driven by a 27% jump in commercial title premiums and an 11% rise in residential premiums.

The segment’s performance contributed to overall net operating income of $201.7 million — up 9.2% from Q1 2024.

Title premiums produced through agency channels increased 12%, while direct premiums grew by 6%. Commercial title business accounted for nearly one-quarter of total net premiums earned, up from 21% in the same period last year.

But the company noted a decline in fee revenue from direct operations, largely due to the recent sale of its settlement and production software platforms.

That transaction saw Old Republic partner with real estate tech company Qualia, which acquired the company’s RamQuest and E-Closing software solutions earlier this year.

“Technology continues to be paramount to ensuring smooth and secure real estate transactions,” said Carolyn Monroe, CEO of Old Republic Title.

“In our previous fourth quarter call, we emphasized the importance of refocusing our technological efforts to streamline business operations. In the first quarter, we proudly announced our strategic partnership with Qualia.”

Monroe said the move would allow Old Republic to modernize transaction processes across its title operations.

“By leveraging Qualia’s expertise and advanced infrastructure, providing a modern digital transaction, we will be able to equip our direct offices and title agents with cutting-edge tools and solutions,” she said. “This partnership also allows our internal tech teams to reallocate our focus and resources toward developing other crucial technologies that will help us thrive in a competitive market.”

Stewart

Stewart Title showed notable growth in its operations during the first quarter, also led by strong commercial business performance and expansion efforts across key markets.

The company reported $3.1 million in net income for the quarter, unchanged from the same period in 2024. Adjusted net income rose to $7 million, up from $4.6 million a year earlier.

“I’m proud of our first quarter 2025 performance as we delivered strong revenue results across all our segments, growing our total revenues compared to the first quarter of last year,” Stewart CEO Fred Eppinger said. “We are pleased with our performance as we were able to deliver these results while navigating a historically challenging macro environment.”

Stewart’s title insurance segment posted operating revenue of $499.2 million, up 11% year over year. Direct and agency operations saw improvements, and title loss expenses remained steady at $17.7 million.

Loss expense as a percentage of revenue declined to 3.5%, compared to 3.9% in the same quarter in 2024, reflecting what the company described as “overall favorable claims experience.”

“Driven by thoughtful investment in talent as we deepen our capabilities in both geographies and asset classes, our domestic commercial business grew 39% in the first quarter of 2025 relative to Q1 of 2024,” Eppinger said.

Eppinger emphasized the company’s continued investments in local growth and acquisitions as a strategic priority.

“In our direct business, we remain focused on growth in our target MSAs,” he said. “We expect acquisitions will be a key component of our growth plan in this business, and to maintain a more robust pipeline of targets.”

The company also reported progress in its small commercial title operations.

“While the business is impacted by a suppressed residential housing market, we saw strong progress in our strategic priority of growing small commercial within our direct operations as we saw a 16% growth this quarter in that important segment,” Eppinger said.