Brisbane’s median house sale price rose 16.16 per cent over the past year, making it the second-hottest market in Queensland, behind Ipswich on 16.67 per cent.

The data, released today by the Real Estate Institute of Queensland, also showed the statewide median house price climbed 4.46 per cent over the quarter, and 12.14 per cent over the year.

The market also sped up its pace, with the median number of days on market tightening by about a week compared with the year prior.

Queensland’s houses are now selling in about 22 days, while units are being snapped up in just 19 days.

REIQ CEO Antonia Mercorella said there was a growing “buzz around Brisbane”, but there were challenges for first-home buyers as a 20 per cent home deposit now represented 1.65 per cent times the average annual earnings.

“With the annual median house price in Brisbane now $1.15 million, the median deposit is now $200,000, putting the dream of home ownership out of reach for many,” she said.