According to the report around 58 per cent of apartments due for completion in 2027-2028 were at moderate or high risk of delay or withdrawal.
Property Council Queensland Executive Director Jess Caire said that a business-as-usual approach to addressing the housing crisis would not suffice and Council and the State Government needed to pull every available lever to boost future supply.
"The further we fall behind our housing targets the greater the deficit grows and the more challenging it will be to make inroads into our housing crisis," Ms Caire said.
"Under the regional plan, the Gold Coast needs to deliver around 5,643 attached dwellings per year between 2021 and 2031. But since 2019, the city has fallen well short of these targets, delivering less than a third of this target annually.
"This reinforces the scale of the challenge that the Gold Coast has in front of it and the need for bold yet considered policy, simply put if nothing changes, nothing changes.
"These issues are not isolated to the Gold Coast, the delivery of attached product remains challenging right across Queensland.
"Large-scale attached product is exactly what we need to build to overcome our housing deficit, but this is also the product that is the most challenging to deliver in the current high-cost environment.
"The delivery of these projects is being hamstrung by soaring construction costs, shrinking productivity, labour shortages and tax settings that make deals unviable before they start," Ms Caire said.
Paul Riga, Director at Urbis explained that sales volumes of new product on the Gold Coast have historically tracked in line with project launches, showing a generally consistent level of demand and absorption of available stock.
"Whilst the Gold Coast saw a solid uptick in new projects coming to market throughout 2024, based on our understanding there is a real risk that this will decline over the remainder of 2025," Mr Riga said.
"A reduction in new product will only exacerbate the demand/supply gap, with the real impact being felt over the coming years for both purchasers and renters," Mr Riga said.
Median unit price growth on the Gold Coast over the past five years sits at 12.1% per annum, with rental growth having increased at between 10 and 11.2% per annum over the same period.
The Property Council is calling for a suite of policy interventions to support the delivery of new housing, including:
- For the State Government to restore our competitive edge by evening the playing field for Australian-based developers by reviewing the application of Queensland's foreign tax framework.
- An annual commitment in the State Government budget to unlock catalytic infrastructure
- Leveraging the upcoming review of the regional plans to ensure we embed the practice of coordinating planning and infrastructure delivery
- Incentivizing local governments to pull all available levers to fast track housing supply via fast tracking planning changes and providing infrastructure charges relief for critical projects.
