$5.4bn apartment crisis: 10,000 homes shelved across Brisbane and Gold Coast

Key points

• More than 10,000 apartments across Brisbane and the Gold Coast have been postponed or placed on indefinite hold, according to PRD data worth an estimated $5.4 billion. Rising building costs and a shortage of builders are cited as key pressures on developers.
• PRD chief economist Diaswati Mardiasmo says the shortage is likely to keep apartment prices high. Property Council of Australia Queensland executive director Jess Caire said approving housing alone does not deliver homes.
• Charter Keck Kramer forecasts that labour and material shortages will worsen from the 2027-28 financial year.