Queensland Property Council Executive Director Jess Caire said that without a clear plan to provide well-located industrial land this shortage would have an inflationary impact on the cost of goods.
"Queensland is in the midst of responding to a housing crisis, delivering on the Olympics and constructing a record infrastructure pipeline, however, one shortage that does not receive the attention it deserves is our critical undersupply of employment land.
"The provision of industrial land may not be sexy and headline grabbing but it's fundamental to our economy and the growth of our region.
"The groceries we order, the products we buy and materials we need to service demand are all developed in and transported through warehouses, distribution centres and manufacturing facilities.
"If we do not have a plan to unlock job creating industrial development then the price of industrial land will increase, rents will increase, and Queenslanders will have to bear the cost.
"According to the data, the rents for premium industrial buildings have increased by more than 50 per cent since 2021 and this trend will only continue in future.
"The industrial sector is a critical employer providing 332,000 jobs across Brisbane and plays a fundamental role in facilitating development outcomes for all industries by enabling the production of materials essential in fuelling Queensland's housing and infrastructure pipeline.
"When planning for future employment land it is essential we adopt a balanced and holistic approach and cater for future supply in well located areas proximate to demand, transport networks and jobs.
City of Moreton Bay Mayor Peter Flannery said industrial land supply was critical to the future prosperity of South East Queensland (SEQ) especially the City of Moreton Bay.
"As the third largest LGA in Australia, with a rapidly growing population, we need sufficient land to support job creation, business expansion and economic growth across the City.
"Recent data shows we're being forced to turn away 60 per cent of industrial land inquiries due to a lack of available land.
"While we have more than 10 major growth fronts to address housing, we are in serious danger of falling behind on our targets for new jobs.
"City of Moreton Bay is ideally located with access to the Bruce Highway, our established agribusiness sector and proximity to the Port of Brisbane and Brisbane Airport so it is critical we think ahead and protect industrial land for future use.
"Failure to do so will have a serious impact on our population's cost of living and the future prosperity of SEQ."
The Property Council is calling for a suite of policy interventions to support the delivery of critical new industrial land:
- A $500 million Industrial Infrastructure Fund to enable local governments and the industrial sector to unlock new employment land.
- For the State Government to have an industrial strategy that facilitates the delivery of well-located industrial land, identifies the necessary infrastructure to support growth and aligns industry, government and utility providers on the measures needed to strategically unlock new industrial land.
- For the State Government to work with industry on a dataset that monitors industrial land supply and benchmarks this against targets in the South-East Queensland Regional Plan.
To view the Property Council's No room to grow – Industrial land supply and vacancy report, please click here.
