Brisbane Approves Two Major Projects Reshaping Newstead and Woolloongabba

Brisbane City Council granted final approvals on 7 July for a 420-unit apartment complex on Skyring Terrace in Newstead and a mixed-use precinct on Vulture Street in Woolloongabba that includes 310 dwellings plus retail space.

These decisions arrive as the median house price across greater Brisbane sits near $780,000 and net interstate arrivals from New South Wales and Victoria continue at more than 2,000 people per month. The projects add supply on both sides of the river while aligning with state government commitments to fast-track housing near planned Olympic venues.

Northside and Southside sites in detail

The Newstead development replaces a former warehouse block between Skyring Terrace and the Brisbane River, with construction slated to begin in March 2027. It sits 800 metres from the Teneriffe ferry terminal and will include a new public plaza funded under the council’s Riverwalk extension program. On the south side, the Woolloongabba site borders the Gabba stadium redevelopment zone and lies within the state’s Priority Development Area that links to the Cross River Rail station opening in 2029.

Prices and timing data

Local sales records show median unit prices in Newstead reached $685,000 in the March quarter, up 4.2 per cent from the same period last year. The Woolloongabba precinct is expected to deliver its first completed dwellings by late 2028, according to the developer’s lodged staging plan. Both projects will contribute to the 2032 Olympic infrastructure corridor that runs from the RNA Showgrounds through to the Gabba.

Buyers and investors can review the council’s online development application portal for exact unit layouts and release dates once marketing begins next quarter. Local agents recommend comparing transport times from both sites to the CBD before the first stage prices are released.