UBS: Queensland Housing Slump Looks Less Grim Than Feared
UBS says the southeast Queensland housing slowdown is not as severe as feared, even as Stockland enquiries plunged and Mirvac reported softer demand.
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what happened
Market Talk reports that UBS asks whether the slowdown in the residential property market in southeast Queensland should be a cause for concern. The question follows first-quarter updates from Stockland and Mirvac, both of which signaled softer residential demand. Analyst Solomon Zhang notes that Queensland had previously been a bright spot in an otherwise weak national market.
UBS highlights a sharp fall in Stockland's Queensland enquiry volumes, which reached 3,700 in the first quarter, down 54% on the quarter. Sales volumes in the state proved more resilient, with 627 lots sold, down 25% on the quarter. Stockland's enquiry-to-sales conversion ratio of 16.8% was the highest for Queensland since at least 2019.
“While this turn in momentum is clearly a negative, we do not think conditions are as bleak as feared,” UBS says.
why it matters
For markets, the note suggests the weakness in Australia's residential sector may be less deep than expected, although pressure on regional demand persists. For developers such as Stockland and Mirvac, Queensland sales trends remain a key benchmark.
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- UBS Says Southeast Queensland Property 'Not as Bleak as Feared' — Market Talk, 26 October 2026 at 22:36 UTC
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