It said there had been no new major land releases in the Brisbane urban footprint since 2005 and called for a major overhaul of housing supply and planning as well as incentives to developers for build-to-rent projects.

A report released along with the survey results showed that in 2002, the median detached dwelling price in Brisbane was around 4.5 times the average annual wage for a Queenslander. In 2022, the same ratio was now over 10 times and rising.

And it warned the 2032 Olympics could worsen the issue and leave a legacy of unaffordable housing.

It claimed that Queensland’s planning system was ill equipped to respond to changing market demand, was too slow and delivered too little land. The cost base of new land and housing was also found to be too high.

The State Government has responded by calling for an expert panel’s advice on what more local government could do, claiming some councils had out-of-date housing strategies, while Opposition Leader David Crisafulli has called for a housing summit.

Deputy Premier Steven Miles said he met with the Local Government Association of Queensland three weeks ago and offered to assist councils to expand housing supply.

The Property Council report said the concerns about adequacy of supply were backed up by a study, which found that from now until 2030, active supply capacity in South East Queensland was predicted to average 1100 lots a month, while peak demand is expected to average 1400 lots a month.

“This represents a shortfall of 36,000 lots in the period 2020-2030,” the report found.

The Property Council survey found one in 20 people in Sydney and Melbourne were “definitely or probably” looking to move interstate in the next five years and about two-thirds were eager to make the shift to Queensland.

“And what this means, is we need a plan to prepare, not only to protect our enviable lifestyle, but also ensure we have the infrastructure and housing supply to support the population growth, so that we can all enjoy the best of Queensland,” the council’s Queensland executive director Jen Williams said

Lifestyle and climate were the highest motivators for a move (both 76 per cent), the relative affordability of housing was also a major driver, with 68 per cent of respondents citing the issue as a reason to move north. More than half said work opportunities were a factor as well.

Southerners polled in the research were keen on the Gold and Sunshine coasts as well as Brisbane and existing south east Queensland residents were found to be concerned about the impacts to housing affordability, but relatively unconcerned about the influx itself.

“Queensland is at the precipice when it comes to housing. Bold decisions must be made right now,” Williams said.

“The time is right to bring together experts across industry, government and community sectors, to kickstart a bold reform agenda that will turbocharge the delivery of new housing across the state.

She said the research showed that while Queensland experienced a huge influx of interstate migrants during the COVID-19 pandemic, there were potentially many more to come.

“Since the original South East Queensland Regional Plan document in 2005, the Property Council has consistently voiced concerns regarding land supply in SEQ and its impact on affordability,” the report said.

“With no new major land releases in the urban footprint since 2005, we are now experiencing the outcome of limited supply and onerous and restrictive planning policy that reduces dwelling supply.”

“Such a significant shortage will only lead to worsening housing availability and affordability. The Property Council and its members have long voiced concerns that Queensland would arrive at this point, sooner rather than later.

“The Games have the potential to leave a legacy of unaffordable housing, resulting in far-reaching social issues and the prospect of a generation who will never achieve home ownership, and our most vulnerable at a greater risk of homelessness.”

The LNP claims there were about 50,000 people waiting for social housing in Queensland and 20 per cent of the homes the State Government promised to deliver in 2017 had not been built.