Business · Economy · 1 hr ago
Queensland minister warns falling prices could slow Brisbane homebuilding
Queensland Housing Minister Sam O’Connor has warned that falling property prices could lead to fewer new homes being built in Brisbane.
He said weaker prices may make investors less willing to fund construction, particularly expensive apartment projects.
Apartments are a key part of Brisbane City Council’s plan to increase housing supply.
The state government says it remains committed to building one million new homes by 2044.
Premier David Crisafulli has blamed federal tax changes for adding uncertainty to the housing market.
A property economics lecturer said the market is affected by several factors, including interest rates and a shortage of skilled workers.
She expects supply constraints to keep property values high in Brisbane in the near term.
Queensland Housing Minister Sam O’Connor warned that falling property prices could reduce new homebuilding in Brisbane, particularly apartment construction.
He said uncertainty and high construction costs were making it difficult to build high-rise homes.
O’Connor said the state government remained committed to its target of one million new homes by 2044.
QUT property economics lecturer Andrea Blake said tax changes could improve housing accessibility over time, while supply constraints would likely keep prices high in the near term.
- Who
- Queensland Housing Minister Sam O’Connor warned about the effect on homebuilding; QUT lecturer Andrea Blake also commented on the market.
- What
- O’Connor said falling prices could be a factor in reduced apartment construction. He cited uncertainty and high costs.
- When
- O’Connor spoke on Monday morning, October 12, 2026.
- Where
- At a construction site for a community development in Newmarket, Brisbane.
- Why
- O’Connor said uncertainty could rattle investors, while high costs made high-rise construction challenging.
Queensland government
Andrea Blake
Tax changes
Queensland government
O’Connor said changes from Canberra had added uncertainty and could affect building rates.
Andrea Blake
Blake said tax changes could help level out the housing market and improve accessibility for young people and first-home buyers.
Market outlook
Queensland government
O’Connor said falling prices could be a factor in fewer apartments being built.
Andrea Blake
Blake said interest rates were driving the price downturn and supply constraints would likely keep property values high in the near term.
The million homes target is ambitious, but we’re not shying away from being ambitious.
I still believe that Queensland is in a better place than anywhere else.
I think that the changes to the tax structure will have long-term benefits of levelling out the housing market to allow greater accessibility by young people and first home buyers.
I don’t see property as becoming affordable in Brisbane anytime soon.
Premier David Crisafulli said changes from Canberra could affect future Queensland building rates as he announced construction figures.
Housing Minister Sam O’Connor warned at a Newmarket construction site that falling prices could affect Brisbane homebuilding.
- Housing target
- One million new homes by 2044
- Minister
- Sam O’Connor
- Location
- Newmarket, Brisbane
- Policy
- Brisbane City Council’s “tall-not-sprawl” approach
- Academic
- Andrea Blake, QUT senior lecturer in property economics
Sources
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