Queensland is in the grips of a well-publicised housing crisis, fuelled by a fall in the number of new homes being delivered and a significant population boom as more families choose to live in the ‘Sunshine State’.
Nowhere is this crisis more apparent than Brisbane, as highlighted by Lord Mayor Adrian Schrinner during his annual Property Council address last week. The extent of the housing shortage in Brisbane is alarming, with the Lord Mayor reporting that just 724 apartments and townhouses were completed in Brisbane last year compared to an average of nearly 4000 over the last eight years. This rapid fall in new housing stock comes at a time when Brisbane is seeing significant interstate migration, with an extra 35,000 people moving here over the last three years.