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The Sydney Morning Herald
· collected 2026-10-12 · by William Davis, Dominique Tassell
Queensland’s housing minister Sam O’Connor warns that decreasing property prices could lead to fewer new homes being built in Brisbane. Speaking at a construction site in Newmarket, he cited federal Labor's tax changes as adding uncertainty to an already challenging market for apartment developers. O'Connor emphasized the importance of addressing this issue given Brisbane City Council’s policy on increasing housing supply through high-density development.
Written locally by qwen2.5:14b on 2026-10-12,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Queensland's housing minister, Sam O’Connor, warned on Monday that declining property prices in Brisbane could result in fewer new homes being built, especially apartments. Speaking at a construction site in Newmarket, he criticized federal Labor’s tax changes introduced in the May budget for increasing uncertainty in the market and potentially deterring investors. O'Connor emphasized that high-rise construction is particularly challenging due to its expense, suggesting that any factors causing investor hesitation could severely impact apartment development in Brisbane, where there is already high demand for housing. The minister's comments reflect concerns about the state’s property market following years of rapid growth and now facing potential instability due to policy changes.
Written for “Brisbane Housing Market Concerns” on 2026-10-12,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
The model judged this article politically coded and scored it +0.35, but all 3 of its quote(s) are attributed speech - words the article quotes from someone, not the article's own narration, so the score is not published.
Written under an earlier scoring contract, which gave a paragraph
rather than checkable quotes. Re-analysing this article replaces it.
Leaning score withheld for article 73360: attributed speech only · logged 2026-10-12
Slipping property prices could reduce the number of new homes built in Brisbane, Queensland’s housing minister has warned, echoing his leader’s criticism of federal Labor’s tax changes in the May budget.
uncertain
minister → slip → budget
Speaking at the construction site for a new community development in Newmarket on Monday morning, the LNP’s Sam O’Connor pointed to increasing uncertainty in the property market.
asserted
O’Connor → speak → market
“Nothing can be harder than what we inherited with the way construction sites were run across Queensland and the way that the CFMEU was behaving … but the Canberra chaos has certainly added to it,” he said.
asserted
he → inherit → it
“It’s the last thing that we need to see in a really difficult sector where there is such a high demand … the last thing you need to see is uncertainty and changes that really rattle investors.”
asserted
that → ’ → investors
Asked if falling house prices after years of explosive growth in Brisbane would spook investors and result in fewer homes being built, O’Connor said he believed it would be a “particular factor” for apartment construction.
asserted
it → ask → construction
“It’s a factor …
asserted
It → ’ → ?
It is very expensive to build high rises at the moment.
asserted
It → build → moment
It is a very, very challenging environment to deliver density, so we are absolutely aware of that.”
asserted
we → deliver → that
Apartments are central to Brisbane City Council’s plan to increase housing supply in the city under its “tall-not-sprawl” policy, but economic factors have pushed many developers towards the luxury end of the market.
asserted
factors → increase → market
O’Connor declined to say whether lower house prices were ultimately a good thing for Queenslanders, but said the state government remained committed to its promise to deliver one million new homes by 2044 despite forecasting a building slump.
asserted
government → decline → slump
“The million homes target is ambitious, but we’re not shying away from being ambitious,” he said.
asserted
he → shy → ?
The comments came a day after Premier David Crisafulli took another shot at federal tax changes as he announced housing construction figures for the state, saying possible future declines in building rates would be the fault of Canberra.
asserted
declines → come → Canberra
“There’s no doubt that some of the changes out of Canberra [have] changed that trajectory, and I do believe that, into the future quarters, we are going to see that come off the boiler a little bit,” he said.
asserted
he → ’ → boiler
“I still believe that Queensland is in a better place than anywhere else.”
asserted
Queensland → believe → place
Dr Andrea Blake, a senior lecturer in property economics at QUT, said failures in the Brisbane property market were the result of a convergence of complex factors.
asserted
failures → say → factors
“I think that the changes to the tax structure will have long-term benefits of levelling out the housing market to allow greater accessibility by young people and first home buyers,” she said.
asserted
she → think → people
“There’s obviously a problem in the transition for investors because I think a lot of the incentives to invest in property have been taken away, and I think we need to remember that investors still make up a substantial portion of the investment stock.”
asserted
investors → ’ → stock
Blake added she believed a downturn in prices was largely driven by interest rates, and significant supply constraints would likely continue to push property values up across Brisbane in near term.
“I don’t see a way out of it in the next short while …
asserted
I → add → while
we just don’t have enough skilled tradespeople and skilled labor to actually construct the stock that we need.
asserted
we → have → that
“I don’t see property as becoming affordable in Brisbane anytime soon.
asserted
I → see → Brisbane
“I’m not sure what will happen post-Olympics, but I think in the lead-up to the Olympics …. I don’t see it dropping to a point that it’s accessible.”
asserted
it → ’m → point
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