A leading property analyst has called for calm despite reports house prices in Brisbane are tumbling as the cost-of-living crunch begins to bite.

A fresh report suggests Brisbane’s house prices have fallen at the fastest pace in history, plunging 10.9 per cent in the last few months.

Domain’s chief of research and economics and top property analyst Nicola Powell said it can be confusing to navigate media reports on the state of the market in SEQ.

She said while they have fallen in recent times, during the pandemic Brisbane house prices surged over 40 per cent.

“What we have seen in Brisbane based on our house price theories is that prices are falling, they continued to fall over the most recent quarter.

“The key thing here is they are falling, but they are not falling as fast as what they were in the previous quarter.

“What that says to us is that the downturn did lose a bit of momentum over the most recent quarter, but house prices are still falling.”

But she hastened to add that context is critical.

“Brisbane house prices in the pandemic rose just under 44 per cent, they have fallen 6.6 per cent from that peak.”

Press PLAY below to hear her analysis in full