September 2026 · Issue #6
“Prices are falling” isn’t our story
National dwelling values eased another 0.2% in August — the fifth monthly dip, now 2.7% below the March peak, according to PropTrack. It sounds alarming until you look underneath the average, because that’s all a national index is: an average of dozens of very different markets, and ours isn’t the one dragging it down.
Brisbane slipped just 0.3% for the month and remains one of the steadier capitals. But the number that matters most out here on the bayside is the split between houses and units.
August 2026, past year
| National dwellings, month | −0.2% |
| National, from March peak | −2.7% |
| Units, year-on-year | +3.0% |
| Houses, year-on-year | +1.5% |
| Thornlands units & townhouses | ~+17% |
| Thornlands unit/townhouse median | ~$762,500 |
That local number is the opposite of a market in retreat. If you own a well-located unit or townhouse in Thornlands, Cleveland or Victoria Point, the “prices are falling” story simply hasn’t been your story this year.
A national average isn’t your street — and ours is a happier number than the one in the news.
Where I’d be a little more measured is with larger established houses. That’s the segment feeling higher interest rates most — the RBA cash rate is holding at 4.35% — and elevated rates do their work on borrowing power at the top end first. It’s not a reason to worry if you’re holding; it is a reason to be realistic on price if you’re selling a bigger home this spring.
The Redlands read
Don’t let a national headline make your decision
What your specific home, in your specific pocket of the Redlands, is worth today is a different question from the number in the news — and usually a better one. Units and townhouses here have held and grown while the national average slipped.
If you’ve been sitting on your hands because the headlines made you nervous, it’s worth getting an actual read on your place before you assume the worst.
Curious what your Redlands home is actually worth in today’s market?
Get my free appraisal
Greg Leigh — local Redlands specialist, Queensland Sotheby’s International Realty. Published 2 September 2026.
Sources: PropTrack Home Price Index (August 2026); Reserve Bank of Australia cash rate. Local Thornlands figures are indicative of the past year’s movement, not a valuation of any individual property.