If you've been putting off that office refurb or commercial fitout hoping prices might ease up in the back half of 2026 - we've got some news for you.

 

They're not.

 

If anything, the pressure's set to ramp up further heading into 2027, so this is shaping up to be the window you want to lock in your project before things get tighter still.

 

We covered the actual dollar figures in our last article (check that out here if you haven't already).

 

This one's about the "why" - why costs have kept climbing through 2026, why 2027 is looking worse rather than better, and one thing you really need to check before signing with any builder.

 

Why Are Fitout & Refurb Costs Still Climbing?

Short answer: not enough tradies, and too much work chasing them - and that's before the Olympic build ramps up properly.

 

Brisbane's tender prices were forecast to jump around 5% across 2026, and from where we're sitting halfway through the year, that's tracking pretty much bang on. That's not us guessing - that's the word from industry analysts tracking the sector, and it lines up with what we're seeing on the ground. The bigger issue is where things go from here.

 

The reasons are pretty simple:

• Queensland's construction workforce is short an estimated 50,000 workers, with that shortfall expected to peak in 2026–27. That's not a typo - fifty thousand.

• The 2032 Olympic build program is the main game here. Venue works, athlete villages and surrounding infrastructure are starting to properly compete for the same sparkies, chippies and project managers that commercial fitout and refurb jobs rely on - and that competition only gets fiercer as more of those projects move from planning into construction over the next couple of years.

• Data centres and general SEQ growth are pulling from the same trade pool too, adding to the squeeze.

• Supply chains are still tight in places, which doesn't help either.

 

What that means for you: the same fitout that cost $900/m² a year or two ago is already sitting closer to $950-$1,000/m² now, and every sign points to that gap widening further into 2027 as Olympic-related works ramp up, not the other way around.

 

The Silver Lining (Yes, There Is One)

Before you panic and shelve the project - Brisbane is still one of the more affordable capital cities in Australia for fitout work. We're sitting below Sydney and Melbourne on cost per square metre, and the gap isn't closing anytime soon given how much dearer those markets already are. So while costs here are climbing, we're still working off a lower base than most of the country - for now.

 

The real takeaway isn't "costs are rising, give up" - it's "costs are rising, and with the Olympic works only ramping up from here, get moving while your budget still stretches further than it will in 2027."

 

Before You Sign Anyone Up: Check They'll Still Be Around

Here's something we don't love talking about, but it needs saying - earlier this year, a Gold Coast commercial fitout and shopfitting business that had been operating since 2008 went into liquidation.

 

Eighteen years in business, then gone. It's a reminder that "established" and "reputable-sounding" doesn't automatically mean financially sound — and if your builder goes under mid-project, you're the one left holding unfinished works, chasing warranties, and trying to find someone else to pick up the pieces (usually at a premium, because nobody wants to inherit someone else's half-finished job).

 

With costs rising and margins getting squeezed across the industry, this kind of thing isn't going to be a one-off. So before you sign with anyone for your next fitout or refurb, it's worth asking a few blunt questions:

• How long have they actually been trading, and under the same entity?

• Can they show you completed projects, not just renders and promises?

• Are they licensed properly for the scale of work you need (medium rise, commercial, etc.)?

• Do they have a habit of hitting you with variations, or are they upfront about cost from day one?

 

It's not about being paranoid - it's just due diligence. A five-minute check now beats a six month headache later.

 

So, What Should You Do?

If a fitout or refurb has been on your radar for Brisbane, Logan, Gold Coast, Sunshine Coast or Ipswich - this is a good time to actually get moving instead of sitting on it. Costs aren't going backwards, trades are only going to get busier as Olympic works ramp up into 2027, and the sooner you lock in scope and pricing, the more predictable your budget will be.

 

Why Work With Us (GCM QLD)?

We're upfront about cost, we don't sting you with surprise variations, and we've been doing this long enough to know how to keep a project on budget even when the market's moving against you. We work across: Offices Medical Suites Retail & Showrooms Hospitality (Cafés, Restaurants, Bars) Industrial & Warehouse offices If you want a realistic, up-to-date read on what your project will actually cost, we're happy to have that conversation.

 

Send Mason an email at mason@gcmqld.com or give him a call on 0408 770 663 to discuss.