Brisbane waterfront approved for 2,200 homes but none affordable

Queensland's Deputy Premier Jarrod Bleijie announced that a 13-tower development on the Northshore Hamilton site, located north of the Brisbane River, will not include any affordable homes despite the city facing a severe housing crisis. The development, set to include almost 2,200 homes, is taking place on the former industrial land that was previously earmarked for the 2032 Olympic Village under the Labor government.

Bleijie stated that he has been using "every lever" to address the housing crisis but could not disclose the selling price of the land, only confirming it was sold at market value. Member for Clayfield Tim Nicholls highlighted that the development is the last major site available near the CBD, offering easy access to amenities. The towers will also feature a 50-bed hotel, supermarket, and shops.

Real estate data revealed that nationally, housing affordability has hit its lowest point on record, with only 12% of homes affordable for median income households ($125,000/year in Australia). Queensland-specific data showed even more dire figures, with only 9% of homes being affordable for the median income household. Queensland Labor leader Steven Miles criticized the government's response as "out of touch" and accused Bleijie of building luxury homes for the wealthy instead of addressing the affordability crisis.