The completion numbers for this year are in, and they're not good. Somewhere around fifteen hundred apartments completed across Brisbane this year, similar to last year. The regional plan estimates the area needs roughly seven and a half thousand attached dwellings a year to keep pace with demand.
That's not a small gap. That's a fifth of what's actually required, two years running, while population keeps growing and unit demand, as I wrote back in August, has been outpacing house demand for months now.
I don't think this resolves quickly. Construction costs, labour shortages, and the insolvency wave I've written about since 2023 all constrain how fast new supply can actually come online, regardless of how strong demand or how generous the incentives get.