State Government under pressure as Brisbane grows

The Queensland state government is under fire as it needs to make way for more than an extra 2.2 million new residents in the next 2 decades. It is anticipated that by 2046 SEQ with have well over 6 million residents and will be bigger than the current population of greater Sydney.

 

It means that this amount of growth will require around 34,500 new homes each year. These numbers are not currently being met. This can been seen in increasing house prices and raging rent increases that are almost unaffordable for most people.

The state government is trying to release vast tracts of land and increase density to enable this growth however locale councils such as Brisbane City Council with red tape and bureaucracy always put a spanner in the works and slow down the machine.

 

This makes it great for those who own property because prices and rents increase but not so good if you want to get into the market.