Solais Residences in Newstead is under construction and on track for completion in the fourth quarter of 2028 as 10,000 apartments stall.
More than 10,000 apartments across Brisbane and the Gold Coast have been put on hold, with new figures revealing a $5.4bn development backlog that threatens to deepen southeast Queensland’s housing shortage.
Data from PRD shows construction has been postponed on 112 apartment projects comprising 10,286 dwellings across the two cities, as rising building costs and persistent labour shortages take their toll on developers.
In Brisbane alone, 6711 apartments across 71 developments have been deferred, representing almost $2.5bn in proposed construction. A further 3575 apartments across 41 Gold Coast developments, worth an estimated $2.9bn, are also on hold.
The figures come amid warnings that many approved apartment projects may never be built, with construction costs more than doubling in five years and builders booked out for years in advance.
PRD chief economist Dr Diaswati Mardiasmo said the number of apartments in deferred Brisbane developments was almost equal to the number in projects commencing construction.
She said the figures were correct as of September 2026 and exposed the “enormous challenges” facing developers, particularly escalating material and labour costs. Despite some improvement in Queensland’s residential construction pipeline, she warned the state would remain structurally undersupplied.
Dr Mardiasmo said the shortage was likely to keep apartment prices elevated and relatively resilient to interest rate movements. That provides some protection for existing owners but creates further affordability challenges for first-home buyers. Renters could also face continued pressure as delays restrict the number of new homes entering the market.
Property Council of Australia Queensland executive director Jess Caire said the figures highlighted a fundamental problem with the state’s housing supply.
“Queensland doesn’t have a shortage of housing projects in the pipeline, it has a shortage of homes making it through to delivery,” Ms Caire said.
“More than 10,000 apartments sitting on hold is a stark reminder that approving housing is only part of the equation. If projects can’t be financed, built and occupied, they won’t help the families looking for somewhere to live.”
Ms Caire acknowledged progress through state planning reforms and the Residential Activation Fund. She called for greater action to remove development barriers, expand workforce capacity and accelerate infrastructure delivery.
Property advisory firm Charter Keck Cramer has warned conditions could become more challenging. It found construction costs for a comparable middle-ring Brisbane apartment project rose 105 per cent between 2020 and 2025, with the cost per dwelling increasing from about $345,000 to almost $710,000.
Many Brisbane apartment builders already have their books full for the next three to four years, and the consultancy described securing a third-party builder as “extremely difficult”. It expects Brisbane’s labour and material shortages to worsen from the 2027-28 financial year as Olympic construction ramps up.
National executive director Richard Temlett said fears of an apartment glut in Brisbane and the Gold Coast were misplaced.
“I don’t believe there will be any oversupply. There is a major shortage of builders,” Mr Temlett said.
Solais Residences is not among the deferred projects. Construction is underway on Tom Dooley Developments’ 29-level tower at 176 Breakfast Creek Road, Newstead, and the project remains on track for completion in the fourth quarter of 2028.
As both developer and builder, Tom Dooley Developments did not need to find a third-party builder for Solais. It is building the project itself.
Founder and Managing Director Tom Dooley has pointed to the same supply pressures. “Brisbane continues to benefit from population growth, major infrastructure investment, expanding employment opportunities and constrained housing supply,” he said.
TOTAL Property Group Managing Director Adrian Parsons has said buyers at the premium end of the market are looking closely at certainty around delivery. “With construction underway, Solais Residences provides that certainty,” he said.
Solais comprises 164 two and three-bedroom residences and penthouses overlooking heritage-listed Newstead House and Newstead Park, priced from $1,698,000.
As featured in The Courier Mail, 18 October 2026, by Elizabeth Tilley. Read the original article.
