The Deloitte Queensland Index and State of the Deal Report – Q2 2026
August 2026
Welcome to The State of the Deal, featuring the latest (207th) edition of the Deloitte Queensland Index, an analysis of Queensland-listed companies on the Australian Securities Exchange (ASX).
The Deloitte Queensland Index (comprising 140 companies as at 30 June 2026) experienced a return of 7.2% in Q2 2026 compared to a 3.5% increase in the S&P/ASX All Ordinaries. Total market capitalisation of Queensland-based ASX listed companies increased from $120.8b at 31 March 2026 to $129.6b at 30 June 2026. This growth was primarily driven by the Technology, Media and Telecom sector which saw a $7.7b increase after a rebound in the data and AI space.
Our Queensland Economic Update explores the key drivers of Queensland’s economy in the second quarter of 2026 as well as insight into the M&A environment and activity. Quarter two of 2026 saw a steady cash rate from the RBA, as unemployment increased to 4.4% from 4.3% in Mar-26 and CPI fell to 3.8% from 4.6% in Mar-26. Inflation was driven by housing (+6.8%) and electricity prices rising 22.4% due to the State Government rebates ending. With builders passing on increasing material and labour costs, new dwellings increased 5.8%.
Key highlights from the Q2 2026 report include:
- The Deloitte Queensland Index: comprising 140 companies experienced a 4.2% increase in the twelve months to Jun 2026, whereas the S&P/ASX All Ordinaries Index grew by 2.4% over the same period.
- Sector mix: The composition of the Index at Jun-26 continues to show reasonable sector diversification, with declines seen in the Consumer, Real Estate and Energy & Resource sectors and growth in TMT, Financials and Industrials in Q2 2026.
- M&A in Queensland: the volume of transactions in Queensland decreased by 10% from 102 in H2 2025 to 92 deals in H1 2026 with disclosed value declining by 55% from $15.4b to $6.9b over the same period. Persistent pressures of the new ACCC reforms, inflation and high interest rates have slowed M&A activity, aligning with national trends.
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