There is a moment, standing inside CJ Hendry’s Flower Shop, when you stop questioning whether the blooms are real. They are not. They are fabric — painstakingly cut, shaped and arranged into something that looks impossibly alive. That is the point. That has always been the point with Hendry: the line between the real and the rendered, blurred until it disappears.

After sold-out runs in New York, Melbourne and Sydney, Brisbane has its turn. The Flower Shop is open now at 1 Arthur Street, Fortitude Valley, until 12 July — and for anyone who grew up watching this city produce something genuinely world-class, there is something quietly significant about Hendry returning home.

What the Flower Shop Actually Is

The format is deceptively simple. Stems are $10 each. Every tenth stem is free. You walk in, choose from hundreds of handcrafted fabric flowers — roses, poppies, tulips, peonies, ranunculus — and build your bouquet. Some are exclusively Australian designs, available only at this location.

What you take home is not a vase of flowers that will be dead by Thursday. It is a piece of considered craft — something between art object and home accessory — that will sit in your space for years. The Flower Shop is one of those rare experiences that is genuinely hard to describe until you’re in it.

Get there early. The queues in other cities have been long, and the exclusively Australian designs won’t last.

The Artist: CJ Hendry

Catherine Jenna Hendry was born in South Africa in 1988 and raised in Brisbane. She studied architecture at QUT and finance at UQ, eventually dropping out of both to make art — a decision that, in retrospect, seems obvious. By 2013 she had committed fully to her practice. By 2015 she had moved to New York. By 2020 she had become one of the most recognised contemporary artists in the world.

Her signature technique is a form of hyper-realism executed almost entirely in coloured pencil — a deliberate, almost perverse choice, given how labour-intensive it is at the scale she works. She draws luxury objects: Supreme sneakers, Hermès leather goods, Birkin bags, Aston Martins. The drawings are enormous — often the size of a wall — and so precise that photographs of them are routinely mistaken for photographs of the objects themselves.

What makes Hendry’s work compelling beyond the technical spectacle is the tension it creates. She renders the language of luxury and consumerism with extraordinary fidelity, but presents it in a medium — pencil on paper — that is among the most low-tech and labour-intensive in the artist’s toolkit. There is something almost subversive in it. The result is work that attracts both the art world and the streetwear crowd, and somehow manages not to alienate either.

She found her audience on Instagram before the art world came to her — early proof that the rules of access and exposure in contemporary art were already changing. Her work now sells through major auction houses and is held in private collections globally. She has installed large-scale immersive exhibitions in New York, Hong Kong, Los Angeles and London. The Flower Shop is a different register — more intimate, more accessible — but the craft and the considered eye are exactly the same.

Worth Your Time

The Flower Shop is open until 12 July at 1 Arthur Street, Fortitude Valley. It’s a short walk from Newstead — and one of the more genuinely interesting things happening in the precinct right now. Free to browse. $10 per stem. Exclusively Australian designs available only at this location.

Go before it closes.

Winter in Brisbane rarely means slowing down. July 2026 is shaping up as one of the better months to be in the inner north — a layered calendar of food festivals, art pop-ups and cultural events, most of them free, many of them walkable from Newstead and Teneriffe.

Here’s our edit of what’s worth your time this month.

Incognito Art Show — Newstead, 21–26 July

Australia’s biggest and most inclusive art show lands in Newstead this month — and it’s unlike any gallery experience you’ve had. Every A5 original artwork, donated by 15,000 artists, is sold for exactly $100. The catch: the artist’s identity is anonymous until after you buy. You might walk away with a piece by an unknown emerging talent — or someone whose work hangs in major collections. The sale takes place at Long Island Brisbane on 25 & 26 July, with the full collection browsable from 21 July. One of the more genuinely exciting things happening in the precinct this winter.

CJ Hendry Flower Market — Fortitude Valley

After sold-out runs in Melbourne and Sydney, artist CJ Hendry brings her plush flower market to Fortitude Valley. Browse, build a bouquet, and take home something that lasts. Stems from $10, free to browse. Runs until 12 July — get there early.

James St Food & Wine Trail — Sunday 26 July

Brisbane’s most elevated food festival closes James Street for a single day of open-air dining. Twenty-five resident venues, 35 pop-up stalls, a live chef stage, limited workshops from Mud Australia and wine tastings from Shaw + Smith. Free entry, 10am–4pm. One of the better days on the Brisbane calendar — plan ahead.

Night Feast at Brisbane Powerhouse — From 29 July

Night Feast returns for its fifth year — free entry, immersive art installations, live music and a food lineup worth making plans around. The festival runs Wednesday through Sunday from 29 July to 23 August. Put it in the diary now.

Le Festival 2026 — Roma Street Parklands, 24–26 July

France comes to Brisbane for a long weekend of champagne, live music, French markets and masterclasses. Beef wellington cooking class, spirits and cheese pairings, paint and sip — tickets from $12. Worth a Saturday afternoon.

Brisbane Gin Festival — Bowen Hills, 17–18 July

Three hours to sample your way through Australia’s best distillers, with food trucks, a tasting class and a tote bag included. From $50. A solid Friday or Saturday evening in winter.

Sirromet Fire Pit Experience — Every Weekend Until 30 August

A private fire pit, a picnic hamper, mulled wine or a bottle to share, and a blanket to take home. Saturdays and Sundays at Sirromet Winery in Mount Cotton. $189 for two. A proper winter evening.

Lasso Country Music Festival

Drake Milligan flies in from Texas, joined by Australian acts including The Wet Whistles and Austin Mackay. If you’ve been quietly curious about the country music resurgence — this is the entry point.

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Living in Newstead or Teneriffe means most of this is on your doorstep. If you’re considering a move into the precinct — or thinking about what your current apartment could achieve in today’s market — we’d love to have that conversation. Get in touch.

While Sydney and Melbourne are showing signs of fatigue, Brisbane is doing something quietly extraordinary: it keeps going.

A new report from PRD Research — the Smart Moves: Capital Cities Edition 1st Half 2026 — has confirmed what those of us working in the Newstead and Teneriffe market have been watching unfold for years. Brisbane’s property market is not cooling. It is simply settling into a new, higher baseline, and the structural forces underpinning that growth show no signs of reversing.

The Numbers That Matter

Brisbane house prices have risen 14% over the past 12 months to a median of $1.15 million. Units have surged 23% to $750,000. PRD’s chief economist Dr Diaswati Mardiasmo is forecasting a further 8–10% growth in houses and 16–18% in units over the next 12 months.

That is not speculative optimism. It is a function of supply and demand that has become structural rather than cyclical.

Against annual demand of more than 25,000 house sales, Brisbane has just 275 new homes planned. In the unit market, demand for approximately 14,000 new apartments is being met by a heavily skewed development pipeline — and the better-located, better-built stock in precincts like Newstead and Teneriffe continues to trade at a significant premium to anything else on the market.

Even Rate Rises Won’t Derail It

The national backdrop has shifted. Auction clearance rates have fallen to 47.4% nationally — the lowest since the onset of COVID-19 in 2020. Federal government changes to capital gains tax discounts and the removal of negative gearing for existing residential property have weighed on sentiment in other markets.

Brisbane’s chronic undersupply is a buffer that those markets simply don’t have.

“Even if there’s another one or two cash rate hikes in 2026, that deep undersupply is still enough to keep Brisbane’s prices going. There’s still enough there to carry us through a higher cash rate period.”

Dr Diaswati Mardiasmo, PRD Chief Economist

Vacancy rates back that up. Brisbane currently sits at 0.8% — effectively zero available rental stock — with rental yields of 2.9% for houses and 3.7% for units providing steady returns against a rising price floor.

What This Means for Owners in Newstead and Teneriffe

The PRD report identifies timing as critical — for buyers and sellers alike. The window between now and 2027 is widely considered the last period of relative access before the Olympic infrastructure premium fully reprices inner Brisbane.

For owners sitting on well-located apartments in buildings like Y43, Luminare, One Oak or Le Bain, the conditions have rarely been stronger. Pre-market demand from our buyer database remains at levels we haven’t seen since the early months of the post-COVID recovery — and 70% of Cavalé properties are still selling before they ever reach the portals.

If you’ve been considering your timing, the data suggests the time to act is ahead of the curve, not behind it.

Interested in a confidential market appraisal? Contact Ari Shahbazifar at Cavalé — 0430 024 560 or ari@cavale.au.

Queensland’s property market has continued its northward run through the first half of 2026, with the March quarter delivering strong median price growth across houses and units — even as national sentiment shifts and new economic headwinds emerge.

According to the Real Estate Institute of Queensland’s latest data, the statewide median house price rose 4.21% over the March quarter to $990,000 — up 15.7% on the same time last year. Units weren’t far behind, climbing 4.81% to $817,500, representing annual growth of 17.19%.

Brisbane led the charge in the capital, with the median house price rising 3.18% over the quarter to $1.46 million, while the unit market surged 6.67% to $880,000. Across Greater Brisbane, house prices lifted 5.75% to $1.15 million and units gained 5.74% to $837,500.

Beyond Brisbane, the numbers were equally compelling. Noosa posted the state’s strongest quarterly house price growth at 8.39%, pushing its median to $1.68 million. Moreton Bay was the standout performer among Brisbane LGAs for houses, up 5.3% to $1.053 million, while Ipswich led unit growth at 7.42%. Regional Queensland continued its remarkable run, with both Rockhampton and Toowoomba recording 18.93% annual house price growth.

Momentum Strong, But the Mood Is Shifting

While the numbers remain impressive, REIQ CEO Antonia Mercorella notes a change in sentiment. “Up until the end of March, there were no obvious signs of a slowdown just yet — but the mood in the market is becoming more cautious,” she said. “People are asking what comes next if they make a move, how much further borrowing costs could rise, and what broader economic pressures might mean for their household budget.”

The fundamentals underpinning Queensland’s market, however, remain intact. Supply is tight, population growth continues to sustain demand, and new housing completions are running approximately 33% below Queensland’s National Housing Accord target — a structural gap that places a natural floor under prices.

CBA Economists Downgrade National Outlook — But Brisbane Holds

As we enter June 2026, Commonwealth Bank senior economists Trent Saunders and Ashwin Clarke have downgraded their national price outlook, now expecting dwelling prices to be flat over 2026 — revised down from a forecast of 3% at the May Federal Budget, and 5% earlier in the year.

“The tax changes have accelerated a slowdown that was already underway. Auction clearance rates have been falling since the RBA started its recent hiking cycle, price growth has continued to slow, and sales activity has softened,” Saunders and Clarke wrote.

Nationally, the picture is uneven. Sydney and Melbourne have weakened the most, recording continued price falls — particularly in higher-priced suburbs. Perth, Brisbane and Adelaide are still growing, but at a slower pace. Brisbane remains one of the few capital cities where both the fundamentals and the data continue to point in the right direction.

New investor lending is expected to fall sharply over 2026, with loan volumes potentially running at around half of late 2025 levels as returns compress and more buyers adopt a wait-and-see approach. Despite this, CBA economists maintain that housing outcomes will ultimately be driven by interest rates, supply and population growth — not tax policy alone — and expect prices to stabilise and begin recovering in 2027.

Budget Reforms Add Uncertainty for Investors

Independent economic modelling commissioned by the REIA, Master Builders Australia and the Property Council has quantified the potential impact of the Federal Government’s proposed negative gearing and CGT discount changes. The analysis found the reforms could reduce new dwelling starts by around 14,000 in the first four years, while pushing rents up by as much as 1.62% by 2029/30.

On a $600-per-week rental, that translates to an additional $10 per week above what renters would otherwise have paid. The modelling also found that a $2 billion Housing Support Program, while positive, would only offset around 5,300 of those lost starts — far short of what’s needed to keep pace with demand.

The REIQ, alongside peak industry bodies, has publicly called on the Government to amend the policy package to better support housing supply and maintain progress toward the National Housing Accord target of 1.2 million new homes by 2029.

Where Things Stand — June 2026

Queensland’s property market enters the second half of 2026 with strong underlying data but a more cautious national backdrop. Affordability constraints are real, consumer confidence has softened, and policy uncertainty is weighing on investor sentiment. At the same time, tight supply, strong population growth and continued price gains across virtually every region suggest the fundamentals remain firmly in place.

Brisbane and South East Queensland remain clear outperformers relative to the national picture. While the broader market may be pausing for breath, the long-term drivers here — population, undersupply, liveability — haven’t changed. For buyers and investors with a medium-to-long horizon, the current environment is less a warning sign and more a window.

As Ms Mercorella put it: “The question now is not whether Queensland property has proven to be strong — it’s how the market will handle the headwinds on the horizon.”

For a long time, Brisbane played second fiddle to Sydney and Melbourne when it came to food. That conversation is over.

2026 has brought a wave of restaurant openings that wouldn’t look out of place in any world-class city — and the inner north is right at the centre of it. Whether you’re a resident of Newstead, Teneriffe or Fortitude Valley, your options for eating exceptionally well have never been better.

The One That’s Got Everyone Talking

+81 Sushi Kappo in West End is already one of the most talked-about openings of the year. Twelve seats. Chef Ikuo Kobayashi. A Japanese omakase built on precision, restraint and seasonality — Australian produce treated with the kind of meticulous technique that makes every course feel considered. This isn’t dinner. It’s a ceremony. Book well in advance.

259 Montague Road, West End.

For the Long Lunch Crowd

Aunty on Wandoo has arrived on Wandoo Street in Fortitude Valley — and she’s already earned her regulars. Modern Asian, Cantonese-leaning, bold flavours and plates designed for sharing. Open seven days from 11:30am till late, it sits close enough to James Street to feel part of the action but tucked away enough to feel like a find. The kind of place you bring people to impress them.

11 Wandoo Street, Fortitude Valley.

Bangkok Energy, Right Here in Newstead

Big Boy Bangkok has brought something genuinely different to the precinct — a neon-lit, high-energy Thai restaurant that channels the hidden street food bars you stumble into in the back streets of Bangkok. The decor draws from 1950s–70s Thailand, the food is bold and unapologetic, and the atmosphere is exactly the kind of weeknight energy Newstead does well. It’s loud, fun and worth every bit of the hype.

Newstead.

A French Bistro Worth the Trip to the CBD

The French Exit is Brisbane’s answer to the classic Parisian bistrot — housed in a grand heritage-listed century-old warehouse on the corner of Mary and Edward Streets. By the Anyday group (their eighth venue and arguably their best), it offers steak frites, duck à l’orange, escargot and soufflé served with genuine soul, and a wine list of over 500 bottles to match. Candlelit, clattering, full of atmosphere. The kind of place that makes you linger.

Corner of Mary and Edward Streets, Brisbane CBD.

The Precinct Effect

What makes Newstead and Teneriffe genuinely special isn’t just one restaurant or one bar — it’s the accumulation. James Street. The Gasworks precinct. The riverfront. The easy walk between all of it. As Brisbane’s dining scene continues to mature, this precinct absorbs the best of it first.

The cities people want to live in are the ones where the food is good, the culture is close and the weekend feels like it was designed for you. Brisbane is building that city in real time — and the inner north is where it’s happening.

Two forces have just collided in the Australian property market — and most people haven’t noticed yet.

While the headlines have been dominated by geopolitical tensions and interest rate speculation, two structural shifts are quietly reshaping the outlook for housing in 2026 and beyond. Understanding them could make the difference between a well-timed decision and an expensive one.

Force One: Construction Costs Are Rising Again

What’s happening in global energy markets is no longer abstract. It’s showing up in invoices.

Building companies across Australia are already locking in price surcharges across core raw materials. Piping prices have increased by 36% — with an additional 10% regional delivery fee on top. Steel products used in residential construction have risen by up to 15% in a matter of weeks, with warnings of a further 10% increase. Freight costs for key construction inputs have jumped 20–30%.

This is inflation at the foundation level — and it flows through the entire system.

When oil prices spike, fuel costs rise. When fuel costs rise, transport rises. When transport rises, raw material prices follow. And eventually, the cost of building a home rises with it.

The counterargument — that buyers simply won’t pay more — sounds logical but misses how housing markets actually work. When supply is already constrained, a developer facing rising costs doesn’t absorb the loss. They either pass it on through the final price, or they shelve the project entirely.

Both outcomes point in the same direction: upward pressure on prices.

Australia’s Cordell Construction Cost Index already shows residential construction costs sitting 35.4% higher than in late 2019. New home completions are falling short of what’s needed to hit the government’s 1.2 million homes target. The supply problem existed before this latest cost shock arrived.

Force Two: Capital Gains Tax Reform Is Closer Than It Looks

In parallel, signals are strengthening that the Albanese government is moving toward reducing the capital gains tax discount on investment properties — potentially from 50% to 33%.

The political framing is straightforward: intergenerational fairness, helping first home buyers, rebalancing the tax system. And in isolation, the argument has surface-level appeal.

But housing is not purely a tax debate. It is, at its core, a supply problem.

Industry modelling tells a different story to the government’s pitch:

• Reducing the CGT discount alone could cut around 12,000 new homes per year — roughly 5–6% of annual new builds
• More aggressive modelling suggests up to 33,353 fewer homes built over five years
• Rents could rise an additional 1–2% above already elevated growth rates

Investors fund two in every five new homes built in Australia. In a market where private capital is doing the heavy lifting that government cannot afford, reducing the incentive to invest in new property does not help first home buyers — it removes the supply pipeline they depend on.

The investors most affected are not the large portfolio holders who can restructure their tax affairs. They are the everyday Australians — one or two properties, building toward a retirement — who are actively contributing to housing supply and reducing their long-term dependence on the public purse.

What This Means for Brisbane

Brisbane’s position is worth understanding clearly.

Vacancy rates are already at 1.1% and projected to fall further. Apartment prices have risen 28% and CBRE forecasts continued growth through to 2030. The Newstead and Teneriffe precinct — Brisbane’s most tightly held — remains undersupplied relative to demand, with quality stock commanding significant premiums over the broader market.

When construction costs rise nationally, the ripple effect on new apartment pricing is felt acutely in precincts like this one — where land is scarce, projects are complex, and supply is structurally limited by geography.

For buyers considering a purchase in 2026, these forces don’t suggest a market pause is coming. They suggest the window for making a well-considered acquisition — before costs feed further through the system — is narrowing.

The Bottom Line

Rising construction costs and potential CGT reform are not competing forces. They are compounding ones — arriving simultaneously in a market that was already under-supplied.

The consequences play out differently depending on where you sit:

• Buyers — acting on solid fundamentals sooner rather than later carries a stronger rationale than it did twelve months ago
• Investors — the case for owning quality property in undersupplied markets strengthens when both construction costs and tax reform reduce the future supply of comparable assets
• Renters — both forces point toward continued upward pressure on rents, particularly in inner-city precincts

At Cavalé, we believe the best decisions are made with a clear understanding of the market — not the headlines. If you’d like to discuss what this means for your property position, we’re always available for a direct conversation.