Budget noise and why Brisbane stands firm

There’s plenty of hooha around the budget’s housing blows, but let’s look behind the headlines and discuss what it all really means for you.

Firstly, it’s far from doom and gloom, particularly for Queenslanders and, specifically, those of us in Brisbane. In fact, it could be superb timing for projects and developments already underway, or in the pipeline across the city, as the new tax settings clearly favour fresh supply.

I’d go as far as to say we’re lucky here in Brisbane, as we continue to experience population growth, housing undersupply and comparatively better affordability than Sydney and Melbourne. This budget may change tax settings, but it won’t suddenly create excess housing supply, or enough to satisfy demand in the lead-up to the 2032 Olympic and Paralympic Games.

This is a budget shaped around investor-heavy affordability pressures down south. Here in Brisbane, many buyers are competing primarily against owner-occupiers who are largely unaffected by these tax changes.

Let me be very clear: the market will not fall. Good properties will remain in huge demand, coveted for their scarcity, school catchment, proximity to the CBD, lifestyle and design.

I hope you enjoy the read.

Matt Lancashire