The quiet south Brisbane suburb of Mount Gravatt was once an affordable place to buy a decent-sized family home.

But in a very short period many have been priced out.

A recent auction for a three-bedroom townhouse captures just how much prices have skyrocketed, highlighting the nation's fast-growing housing affordability crisis.

More than 20 registered bidders piled into the home in Mount Gravatt East, about 10 kilometres from Brisbane's CBD, hoping to make it their own.

Online, the listings categorised the property at under $1 million, but within seconds of the auction beginning, the price was already at $1.1 million.

Several players were in the game at first, but it quickly whittled down to a dual between two young couples.

The home would eventually sell for more than $1.5 million,

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