Billions of dollars in projects are in limbo in South East Queensland due to builder shortages, including a third of Brisbane’s major projects and half of the Gold Coast’s.
Elizabeth TilleyFollow @liztilley844 min read September 4, 2023 - 12:00AM
News Corp Australia Network
Billions of dollars worth of shovel-ready projects across South East Queensland are without a builder, and developers are rapidly losing money on projects desperately needed to house the flood of people moving to the state.
Exclusive research by PRD reveals more than 40 per cent of all 196 residential projects worth over $10 million due to start construction in South East Queensland between January 2022 and 2024 do not have an explicit builder or design builder assigned.
Over a third of projects in Brisbane are without a builder, and over half of developers are waiting on a builder on the Gold Coast.
It’s even worse on the Sunshine Coast, where more than sixty per cent of all housing developments have no builder.
Among the projects without a builder assigned include a $50 million..
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