QLD & Brisbane governments lead the wakeup to the urban property squeeze – 100 towers a year are needed

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In a move that the village industry should be watching closely, Brisbane Council has approved
new high rise developments in the face of inner city community concerns, given the forecast
demand of 500,000 additional people in SE Queensland by 2028. The construction industry will
have to build 104 new apartment blocks of 20 stories every year to achieve this. The Property
Council says it won’t happen given the capacity of the construction industry, the paucity of
land at the moment and the attitudes of existing residents. The Benevolent Society in Sydney
has been battling locals to get 10 story blocks built as villages in Bondi for some time. As they
note, ageing locals have to move to the Central Coast to be able to access and afford a village
lifestyle.

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