The $29.2 billion in infrastructure spending planned over the next four years was significantly higher than NSW and Victoria as a percentage of gross state product, and this was boosting the Queensland industrial and logistics sectors.
In retail, shopping centre turnover grew by 22.9 per cent – more than in any year since 2019. JLL found new builds in the sector were meeting less than half of total projected demand.
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This masthead reported last month that Brisbane had become the most expensive place to build in Australia, risking further surges in house prices and blowouts or delays to major projects.
It now costs $5009 a square metre – or about 3 per cent more than second-placed Sydney – on average to build in the city, the 2025 Global Construction Market Intelligence report from consultants Turner and Townsend showed.
Tiffany Emmett, an associate director of Turner and Townsend, said at the time, “we are pretty concerned about capacity constraints in the Queensland market over the coming years”.
“We’re expecting that they’re going to need to draw on interstate resources and skills to help deliver the pipeline.
“If they don’t, then obviously there’s the risk of budget over-runs, projects being delayed, and potentially some projects not even going ahead because they just can’t get the … workers, or there just isn’t the capacity in the market to deliver them.”
Construction costs in Brisbane rose by 4.4 per cent last year, and were expected to increase a further 5.5 per cent in 2025 – more than anywhere else in the country.
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