Queensland saw enormous interstate migration during 2021-2023, pushing Brisbane and Gold Coast property prices up dramatically. Many of those who bought during the boom locked in low fixed rates that have since expired, transitioning to variable rates above 6%. With a median mortgage of $545,000 and relatively lower household incomes than Sydney or Melbourne, Queensland's stress rate of 28.3% reflects genuine affordability strain across the south-east corner.
At the average QLD mortgage of $545,000 on a 6.5% variable rate over 30 years, monthly repayments are approximately $3,445. Against the state median household income of $85,000, that represents roughly 48.6% of gross income — above the 30% stress threshold.
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QLD-specific financial counselling services:
Phone: 1800 007 007
State government assistance that may help reduce overall household costs:
Mortgage stress patterns within Queensland vary by area. The major population centres are: Brisbane, Gold Coast, Sunshine Coast, Townsville, Cairns. Outer suburban and regional areas often experience higher stress rates due to lower incomes and fewer employment options, despite smaller mortgage sizes.
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