Hotspotting has just published its annual report with Australia’s largest comparison website Canstar, the one we call Rising Stars.

In the Rising Stars report each year, we use five key metrics to rank the 14 major market jurisdictions in the nation - the eight capital cities and six state regional markets.

The report ranks the 14 market jurisdictions from 1 to 14 on their prospects for growth in the coming year.

The 2024 edition of Rising Stars ranks Brisbane No.1 - the market with the best prospects to provide growth in the next year or so.

Brisbane is a standout on all the five metrics we use to arrive at our ratings - sales activity trends, recent price movements, vacancy rates, rental growth trends and infrastructure spending.

Indeed, Brisbane ranks in the top 3 in the nation in all of those metrics except vacancy rates, with particular impact from rising sales activity, recent price growth and high rental growth, as well as a big infrastructure spend.

The market performance we expect from the Queensland capital in 2024 continues the excellent results of last year, when Brisbane was one of the top three markets in the nation for house price growth and Australia’s best performer on price growth in the unit market – a factor which is becoming increasingly important around Australia.

According to CoreLogic, the median house price for Brisbane rose 13.3%, which was second behind Perth, while both PropTrack and Domain rated Brisbane the strongest unit market in the nation for annual growth in unit prices.

The ranking in the new Rising Stars report suggests Brisbane is poised with another stellar year in real estate, boosted by rising population thanks largely to internal migration, a solid underlying economy and a massive infrastructure spend - with more to come as the city works towards its destiny as the host of the 2032 Olympics.