New development projects and what they mean for the area

Brisbane City Council signed off on the Albion Exchange redevelopment on Breakfast Creek Road last week, clearing the way for 680 apartments and 12,000 square metres of office space on the former industrial block.

The timing aligns with sustained interstate arrivals from New South Wales and Victoria that have kept vacancy rates below 1.5 percent across inner suburbs since early 2025.

Northside and Southside sites advance together

The Albion site sits two kilometres from the Newstead riverfront, where Stockland is completing its final stage of river-view units priced from $695,000. On the Southside, the state government’s Cross River Rail works at Woolloongabba station are triggering a separate 450-unit development by Mirvac along Stanley Street, with the first stage scheduled for completion in late 2028.

Both projects sit inside the 2032 Olympic precinct boundaries and will be linked by the new metro line now under construction between the CBD and the Gabba.

CoreLogic recorded a 4.8 percent lift in Brisbane median dwelling values over the past twelve months, taking the figure to $782,000 as of June 2026. Detached houses in Albion have traded at an average of $1.15 million this year, up $85,000 from the same period in 2025, while units in the same postcode have risen 6.2 percent to a median of $612,000.

Planning documents lodged with council show the Albion Exchange will include 180 affordable units tied to the state’s 2026-2030 housing strategy and a new 1,200-seat childcare centre operated by Goodstart Early Learning.

Prospective buyers should monitor the Brisbane City Council development application portal for public notification periods on the next two stages of the Stanley Street project, expected before Christmas.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.