The median house price in Brisbane is tipped to hit $1 million within seven years according to the REIQ.
And the Gold Coast will follow in 2025 and the Sunshine Coast four years after that.
The projections are based on detailed suburb-by-suburb analysis of the changes in values over the past five years by the Real Estate Institute of Queensland.
But the startling results show that by the end of this decade, more than three-quarters 105 suburbs will carry a seven-figure price tag.
And there will not be a single suburb in Brisbane, the Gold or Sunshine coasts with a median value of under $500,000.
An REIQ spokeswoman said the projections were only a guide, and would be affected by economic conditions, interest rates, building costs and other factors.
There is nothing new about thee projections – I made a similar projection early last year, based on long term capital growth rates.
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.