Whether you're eyeing a coastal lifestyle in the Gold Coast or a family home in the suburbs of Brisbane, the choice between buying vs renting in Queensland can feel like a big one - and for good reason.
As of mid-2025, the median house price in Brisbane sits around $860,000, while the average weekly rent is about $680. Meanwhile, regional areas like Toowoomba offer homes around $500,000, making homeownership more accessible outside city centres.
Queensland’s growing economy, relaxed lifestyle, and strong infrastructure make it an attractive option for both renters and homebuyers. But with rising interest rates and Brisbane’s rental vacancy rate at just 1%, it's more important than ever to understand the true costs and benefits of each option.
Let’s break down the top 7 things you need to know before choosing between buying vs renting in the Sunshine State.
Not Sure if Buying Beats Renting? Speak with experienced Queensland mortgage brokers at Zest Mortgage Solutions to explore tailored loan options, compare rent vs mortgage costs, and get clear answers before you commit. Call us at (07) 3461 6499 to get started.
#1: Buying vs Renting: What’s the Real Difference?
Pros and Cons of Buying a Home
Pros:
- Equity growth: As you pay off your home loan, your ownership stake grows.
- Stability: No landlord suddenly asking you to vacate.
- Freedom: Renovate or paint without seeking approval.
- Access to Government schemes like the First Home Owners Grant.
Cons:
- Upfront costs: You’ll pay stamp duty, a deposit, and possibly conveyancing solicitors.
- Maintenance: You're responsible for all repairs and property inspections.
- Market risks: Property prices can fall.
Pros and Cons of Renting a Home
Pros:
- Flexibility: Easier to relocate for work or lifestyle.
- No repair bills: Landlord handles maintenance (in theory).
- Lower upfront costs: Just bond, rent in advance, and maybe a moving van.
Cons:
- No equity: Rent money doesn’t build you an asset.
- Less control: Can’t make major changes or always stay long-term.
- Rent hikes: Subject to market conditions and landlord decisions.
Financial and Lifestyle Differences
- Buying requires significant upfront and ongoing costs (think: council rates, building and pest inspection, strata fees).
- Renting is more manageable short term, but doesn’t build wealth.
- Lifestyle-wise, buying roots you in place; renting keeps things flexible.
#2: How Much Does It Cost to Buy a Home in Queensland?
Buying a home in Queensland means more than just covering the listing price. From regional price gaps to stamp duty and legal fees, there’s plenty to consider before signing the contract of sale. Here's what it really costs to enter Queensland’s residential property market in 2025.
Average Home Prices Across Queensland Regions
As of 2025, Queensland’s property prices vary widely depending on the region:
- Brisbane (metro): ~$860,000 (houses), ~$580,000 (units)
- Gold Coast: ~$940,000 (houses), ~$630,000 (units)
- Sunshine Coast: ~$890,000 (houses), ~$610,000 (units)
- Toowoomba: ~$520,000
- Bundaberg: ~$440,000
- Cairns: ~$530,000
Source: Domain House Price Report
Prices are still rising in popular areas, particularly coastal zones and suburbs with upgraded infrastructure or enhanced lifestyle appeal. Meanwhile, regional areas tend to offer better value and larger land sizes for the price.
Stamp Duty, Legal Fees & Hidden Costs
Beyond the sale price, buyers must budget for several extra expenses:
- Stamp duty (transfer duty): Varies by purchase price; for a $700,000 home, expect around $17,000 (less if you're a first home buyer). Try the QLD Government Stamp Duty Calculator.
- Conveyancing fees: Around $1,500–$2,500, paid to your conveyancing solicitor to handle legal paperwork.
- Building and pest inspection: Approximately $500–$800
- Council rates: Roughly $1,500–$3,000 annually, depending on the local government area
- Strata fees (if buying a unit or townhouse): Can range from $3,000–$7,000 per year
- Land tax: Applies if the property isn’t your principal residence and exceeds the threshold
- Sinking fund contributions: Extra charges for future strata repairs or upgrades
These costs are essential to consider when creating your property-buying checklist, especially in strata-managed properties or areas prone to flooding, which may require additional due diligence.
First Home Buyer Incentives
If you're a first home buyer, there’s good news. Queensland offers a few schemes to make homeownership more achievable:
- First Home Owners Grant (FHOG): Up to $30,000 for eligible buyers purchasing a new build or a land and land package
- Stamp duty concessions: No transfer duty on homes under $500,000, with partial concessions up to $550,000
- First Home Guarantee: A federal scheme allowing first-time buyers to purchase with just a 5% deposit, no Lenders Mortgage Insurance (LMI) needed
#3: Renting in Queensland: What Are the True Costs?
Renting might seem more straightforward than buying, but it still comes with a range of costs that can add up fast. From bond payments to rising weekly rents, it’s essential to know what you’re really signing up for.
Let’s break down the real expenses renters are facing in Queensland today.
Median Rent Prices in Key Areas (as of 2025)
Rent prices across Queensland have increased significantly in recent years due to high demand and limited supply. Here's what renters are currently paying:
- Brisbane:
- Houses: ~$680/week
- Units: ~$580/week
- Houses: ~$680/week
- Gold Coast:
- Houses: ~$750/week
- Units: ~$620/week
- Houses: ~$750/week
- Sunshine Coast:
- Houses: ~$720/week
- Units: ~$610/week
- Houses: ~$720/week
- Toowoomba: ~$480/week
- Cairns: ~$520/week
- Bundaberg: ~$440/week
Source: SQM Research
Urban areas, such as Brisbane, and coastal zones remain the most expensive, while regional areas offer slightly more affordable options, although demand is also rising there.
Bond, Upfront Costs & Ongoing Expenses
Renters in Queensland typically face the following costs:
- Bond: Usually equal to 4 weeks’ rent and must be lodged with the Residential Tenancies Authority (RTA)
- Advance rent: Often 2 weeks upfront
- Moving expenses: Truck hire, cleaning, etc.
- Utilities: Electricity, gas, internet - rarely included in rent
- Renter’s insurance: Optional but recommended
- Ongoing rent increases: May occur every 6–12 months, depending on the lease and market
These costs can vary by region and property type, especially in strata-managed buildings where shared utility charges may apply.
Rental Availability & Market Trends
As of August 2025, Queensland’s rental vacancy rate sits at:
- Brisbane: 1.0%
- Gold Coast: 0.9%
- Sunshine Coast: 0.8%
- Regional QLD average: 1.4%
Source: REIQ
With vacancy rates well below the healthy benchmark of 2.5–3%, renters are facing tough competition. Demand has been pushed higher due to population growth, limited new housing supply, and lifestyle changes post-COVID-19 pandemic.
Virtual tours, online listings, and social media groups have become essential tools for finding rental properties quickly.
#4: Is It Cheaper to Rent or Buy Right Now?
Renting is still cheaper than buying in many parts of Queensland, at least in the short term. With median rents in Brisbane sitting around $680 per week and average monthly mortgage repayments for a $700,000 home (with a 6.1% interest rate) at over $4,300, the upfront and ongoing costs of owning are clearly higher.
However, buying builds equity over time and may work out cheaper in the long run, especially if you plan to stay in the same home for at least 5–7 years. That’s often the break-even point when factoring in stamp duty, maintenance, and interest costs versus rising rents.
Online tools like the Moneysmart Rent vs Buy Calculator and guidance from professionals can help you compare your specific situation. Ultimately, it’s not just about cost; it’s about goals, lifestyle, and how long you plan to stay in one place.
#5: What Hidden Factors Can Affect Your Property Decision in Queensland?
Beyond price and lifestyle, a few overlooked details can seriously impact your choice to rent or buy in Queensland.
Natural Disaster Zones
Areas like Brisbane’s low-lying suburbs and parts of Townsville are flood-prone, while hinterland regions may sit in bushfire zones. This can affect insurance costs and resale value.
Zoning & Heritage Rules
Zoning regulations and heritage restrictions can limit renovations or future development.
Strata Fees & Sinking Funds
In units or townhouses, you’ll likely pay strata fees and contribute to a sinking fund. These costs vary, so it is always advisable to review the body corporate records.
Legal Documents
Don’t skip the details; always review the title deed, contract of sale, or rental agreement with a licensed conveyancing solicitor to avoid hidden issues.
#6: What Are Your Legal Rights as a Buyer or Renter?
Whether you're buying or renting in Queensland, understanding your legal rights is essential to protect yourself and your finances. From tenancy laws to buyer protections, here’s what you need to know before signing any agreement.
Tenant Rights in Queensland
Renters are covered under the Residential Tenancies and Rooming Accommodation Act, which outlines your rights and obligations during a tenancy. Some key protections include:
- Bond protection: Your rental bond must be lodged with the Residential Tenancies Authority (RTA)
- Notice periods: Landlords must provide proper written notice for rent increases, entry for inspections, or to end a tenancy
- Property condition: The home must be safe, clean, and in good repair
- Dispute resolution: Tenants can access free mediation through the RTA for issues with landlords
Homeowner Responsibilities and Rights
As a buyer, your legal protections and responsibilities are detailed in the contract of sale, title deed, and local property laws. Key rights include:
- Cooling-off period: Buyers have 5 business days to cancel after signing (with penalties)
- Disclosure obligations: Sellers must disclose easements, encumbrances, and zoning
- Building and pest inspections: You have the right to include these as conditions in your offer
- Exchange of contracts: A sale only becomes legally binding after this step
Always work with a licensed conveyancing solicitor to review legal documents and guide you through settlement.
#7: How Do You Know If You're Ready to Buy a Home?
Timing the market is tough, but knowing whether you are ready to buy matters more than trying to predict interest rates or housing cycles. Buying a home in Queensland isn’t just a financial move; it’s a lifestyle commitment. So how do you know if it’s the right time for you?
Personal & Financial Readiness Checklist
Ask yourself:
- Do I have stable employment and income?
- Have I saved at least a 5–20% deposit?
- Can I afford the stamp duty, legal fees, and moving costs?
- Am I prepared for ongoing expenses like council rates, maintenance, and insurance?
- Do I plan to stay in the same location for at least 5 years?
If you answered yes to most of these, you may be in a good position to buy.
Market Conditions vs Life Stage
While interest rates, Government policies, and economic stimulus packages can influence affordability, your life stage should carry more weight. If you’re planning to start a family, want stability, or are ready to stop renting, those are solid personal indicators.
Advice from Property Experts
Many brokers suggest focusing on your own readiness over trying to “time the market.” Prices may fluctuate, but securing the right home for your needs and budget is what matters most in the long run.
Unsure What You Can Afford to Borrow? Our team conducts detailed assessments to determine your true borrowing power, factoring in income, expenses, and current obligations. Partner with a knowledgeable Queensland mortgage broker at Zest Mortgage Solutions for a clear financial roadmap. Call (07) 3461 6499 to book a free consultation.
Final Thoughts: Making the Right Move for You
Choosing between buying vs renting in Queensland isn’t a one-size-fits-all decision; it depends on your financial situation, lifestyle needs, and future goals. Renting offers flexibility, while buying can build long-term wealth and stability.
By understanding the full costs, legal rights, and local market conditions, you’ll be better equipped to make the move that’s right for you.
Still on the fence? A quick chat with an experienced Queensland mortgage broker can make all the difference. Reach out to the team at Zest Mortgage Solutions or call (07) 3461 6499 for tailored financing advice, helpful tools, and real-world insights to guide your next step, whether you're ready to buy or just exploring your options.
