In Brisbane, developers are largely pivoting towards constructing luxury apartments, with many being described as 'refined' or 'boutique'. This trend is largely driven by the increased costs associated with construction, which are making traditional affordable housing options less viable. The prices of these new off-the-plan apartments vary significantly, with one-bedroom units starting around $700,000 and high-end riverfront apartments selling for over $11 million.

Ray White's chief economist Nerida Conisbee has pointed out that although there remains a strong demand for affordable housing, especially in areas that could support such developments, the stark rise in construction costs has prompted many developers to focus their efforts on high-end builds. This shift seems to have intensified during the pandemic, as the economic environment has changed and construction expenses have surged, leading to a market flooded with luxury options instead of affordable ones.

This development trend raises concerns about ongoing housing affordability issues in Brisbane. With many potential buyers priced out of the market, there is a significant gap between supply and demand for affordable housing. This also underscores a broader concern regarding housing policy and the role of economic factors in shaping the housing landscape, as developers navigate high costs while community needs for affordable options remain largely unmet.