Property commentator Michael Matusik published some articles recently about the risks of buying of the plan. See:
Risks 1 to 3
Follow Up Comments
For a more detailed analysis, see the recently published Kindle Book: Buying An Apartment Off The Plan in Queensland - A Guide For Successful Buying.
This book can be downloaded to a Kindle, iPhone, iPad or computer. The cost is less than $10, so good value if you are planning on spending money on an apartment in Queensland.