Statistics provide the snapshot, but local experience adds the context. Stefan Blee shares some statistics and observations about the Wavell Heights property market, reflects on one of the suburb’s historic homes, and offers his thoughts on a major infrastructure project that could shape the suburb’s future.
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It has certainly been an interesting few weeks in the Brisbane property market. While much of the media continues to focus on uncertainty, our experience on the ground has actually been very positive.
Last weekend was one of our busiest in quite some time, with excellent attendance at open homes and strong buyer engagement across a number of properties. It reinforces what we’ve been saying for a while now – well-presented homes that are priced correctly are continuing to attract genuine competition.
There’s no question that buyers are more discerning than they were a couple of years ago. If a property is overpriced, they’ll simply move on. However, when the pricing, presentation and marketing are aligned, buyers are still prepared to act with confidence.
We’ve seen that firsthand with the successful campaign at 276 Rode Road, while Ellcon Constructions’ stunning new home at 26 Frankit Street has attracted excellent interest since launching. Fifteen Sumar Street has also been incredibly well received, particularly by buyers looking for a home with plenty of space and the opportunity to add value over time. We received three offers after the first open home and are currently negotiating with those buyers, while 12 Vaucluse Street is also under contract.
One statistic that continues to receive plenty of attention is Brisbane’s auction clearance rate. Personally, I don’t place a great deal of emphasis on it, particularly in our area where many homes still sell by private treaty. What I pay attention to is buyer enquiry, inspection numbers, conversations at open homes and the number of quality offers being presented. Right now, all of those indicators remain encouraging and, if anything, buyer confidence feels like it’s gradually improving.
Last weekend was one of our busiest in quite some time, with excellent attendance at open homes and strong buyer engagement across a number of properties. It reinforces what we’ve been saying for a while now – well-presented homes that are priced correctly are continuing to attract genuine competition.
There’s no question that buyers are more discerning than they were a couple of years ago. If a property is overpriced, they’ll simply move on. However, when the pricing, presentation and marketing are aligned, buyers are still prepared to act with confidence.
We’ve seen that firsthand with the successful campaign at 276 Rode Road, while Ellcon Constructions’ stunning new home at 26 Frankit Street has attracted excellent interest since launching. Fifteen Sumar Street has also been incredibly well received, particularly by buyers looking for a home with plenty of space and the opportunity to add value over time. We received three offers after the first open home and are currently negotiating with those buyers, while 12 Vaucluse Street is also under contract.
One statistic that continues to receive plenty of attention is Brisbane’s auction clearance rate. Personally, I don’t place a great deal of emphasis on it, particularly in our area where many homes still sell by private treaty. What I pay attention to is buyer enquiry, inspection numbers, conversations at open homes and the number of quality offers being presented. Right now, all of those indicators remain encouraging and, if anything, buyer confidence feels like it’s gradually improving.
Economic conditions are still creating challenges for many families, and buyers are naturally taking a little more time before making decisions. That said, property values throughout Wavell Heights have remained resilient, and we’re certainly not seeing the dramatic slowdown that some headlines would have you believe.
Away from real estate, I came across an interesting local story this week. Like many Australians, I’ve enjoyed watching Jacob Elordi’s success on the international stage, and I was surprised to learn about his family’s connection to Wavell Heights. It’s always fascinating to discover the local stories behind people who go on to achieve great things.
I was also reminded of one of our suburb’s hidden gems — the heritage-listed Gohdes Farmhouse on Spence Road. Built in the early 1900s, it stands as one of the last remaining reminders of Wavell Heights’ farming history. Long before the suburb became one of Brisbane’s most sought-after residential locations, the area was home to dairy farms, pineapple plantations and banana crops. It’s a wonderful piece of local history that’s worth appreciating.
Finally, it was disappointing to hear that the proposed Gympie Road tunnel has been delayed until after the 2032 Olympic Games. While these projects inevitably take time, I genuinely believe this will be an important piece of infrastructure for Brisbane’s north.
If it succeeds in removing even a proportion of heavy vehicles and through traffic from Gympie Road, it has the potential to make a noticeable difference for local residents and commuters alike. As Brisbane continues to grow, investment in projects like this will become increasingly important if we’re going to keep pace with our city’s future.
As always, if you’d like to chat about the local market or simply find out what your property might be worth in today’s conditions, I’d love to hear from you.
Away from real estate, I came across an interesting local story this week. Like many Australians, I’ve enjoyed watching Jacob Elordi’s success on the international stage, and I was surprised to learn about his family’s connection to Wavell Heights. It’s always fascinating to discover the local stories behind people who go on to achieve great things.
I was also reminded of one of our suburb’s hidden gems — the heritage-listed Gohdes Farmhouse on Spence Road. Built in the early 1900s, it stands as one of the last remaining reminders of Wavell Heights’ farming history. Long before the suburb became one of Brisbane’s most sought-after residential locations, the area was home to dairy farms, pineapple plantations and banana crops. It’s a wonderful piece of local history that’s worth appreciating.
Finally, it was disappointing to hear that the proposed Gympie Road tunnel has been delayed until after the 2032 Olympic Games. While these projects inevitably take time, I genuinely believe this will be an important piece of infrastructure for Brisbane’s north.
If it succeeds in removing even a proportion of heavy vehicles and through traffic from Gympie Road, it has the potential to make a noticeable difference for local residents and commuters alike. As Brisbane continues to grow, investment in projects like this will become increasingly important if we’re going to keep pace with our city’s future.
As always, if you’d like to chat about the local market or simply find out what your property might be worth in today’s conditions, I’d love to hear from you.
Stefan Blee
Property Market Report
Wavell Heights
12-month analysis · Jul 2025 – Jun 2026 · 228 confirmed sales
Monthly median sale price
Median price
Mean price
Sales volume
Period median$1.503M
Period highAug ’25 · $1.649M
Period lowSep ’25 · $1.314M
Total sales228
Seasonal pattern: Aug 2025 peak ($1.649M) reflects typical Brisbane winter-to-spring premium. Sep dip to $1.314M is consistent with spring-entry lag before a Feb 2026 recovery ($1.6M, 36 sales — highest-volume month). May 2026 recovered to $1.536M once four previously unpriced sales were confirmed. Apr–Jun softening reflects broader market caution.
Median price by bedroom count
Dominant type3-bed · 88 sales
5-bed premium vs 4-bed+62%
5-bed premium vs 3-bed+79%
Entry point (2-bed)$818.5K
Two distinct buyer pools: The step from 4-bed ($1.542M) to 5-bed ($2.5M) is a 62% premium jump — not incremental, an entirely different segment. 3-bed at $1.398M remains the volume sweet spot (41% of all sales).
Median price by land size
Most common size600–700 m2 · 99 sales
Median block (suburb)607 m2
400–500m2 vs 500–600m2+28% premium
400–500 m2 anomaly: Subdivided lots in this range ($1.81M median) outperform the larger 500–600 m2 tier ($1.41M) by 28% — reflecting newer builds and knock-down-rebuild demand attracting a premium over older stock on bigger blocks.
Days on market distribution
Median DOM28 days
Mean DOM49 days
Sold within 30 days53% of sales
Longest sale370 days
Bimodal market: 93 sales (53%) sold within 30 days — correctly priced properties move fast. The long tail beyond 90 days (22 sales, 13%) reflects overpriced listings that eventually find their level, pulling the mean well above the median.
3-month snapshot vs prior period
Recent 3m median$1.400M
Prior 3m median$1.600M
Median shift–12.5%
Volume shift–32.8%
Recent 3m DOM25 days
Meaningful softening: The –12.5% median drop and –32.8% volume fall are significant. The prior period (Jan–Mar) was anchored by a very strong Feb 2026 (36 sales, $1.6M median). The recent period has a higher proportion of sub-$1.4M sales alongside a cluster of prestige transactions — the wide mean-median gap ($1.619M vs $1.400M) reflects a split market. The 6 remaining unpriced records could partially close this gap once registered.
Top 10 sale prices
Prestige segment active: Four sales above $3M this quarter — 1 Luke St ($3.45M), 27 Abbey St ($3.3M), and 19 Vaucluse St and 8 Kiama St (both $3.2M). All five-bedroom homes on 617–647 m2 blocks, all selling within 48 days.
Published 1-July-2026
Stefan Blee is a Proud Promotional Partner of Brisbane Suburbs Online News
Note: This article is based on data from publicly available sources at the time of publication and is intended for general information only. Readers should conduct their own research and seek independent advice before making any property decisions.
