- Yesterday's budget announced extra funding to social housing
- Housing stock remains low due to population growth
- PCA has welcomed a Build-to-Rent pilot project
Strong population growth in the state has continued to place enormous pressure on housing supply and affordability. It becoming an issue across the country, not just in the Sunshine State.
Jen Williams, the incoming Queensland Executive Director, has noted that the state also needs to dramatically increase housing supply well in time should Brisbane host the 2032 Olympics.
“To maintain our enviable lifestyle, we must preserve our affordability advantage and ensure that the most vulnerable members of our community have access to this basic human right,” Ms Williams said.
“COVID has resulted in many southerners reassessing where and how they want to live. And the answer for many is Queensland. Over the coming months when we are announced as an Olympic City and the international borders re-open, the pace of growth will certainly shift a gear again.”
Jen Williams, Incoming Property Council Queensland President
Ms William argues greater investment in social housing will allow the broader community to benefit from opportunities stemming as a result of the Olympics. However, she argues aside from direct investment in housing stock, the Queensland Government needs to unlock new private housing, particularly in greenfield areas.
“This will require an investment in the infrastructure required to both unlock new developments and facilitate mobility across the state,” she adds.
“Similarly, we also need a commitment to facilitate new and innovative housing models like ‘Build-to-Rent’ that can quickly increase the supply of rental housing and improve the quality of life for the many thousands of Queenslanders living in rental accommodation.”
The Property Council has welcomed the piloted Build-to-Rent projects, but has reiterated the need to match this project with commitments towards addressing taxation and regulatory hurdles to increase delivery of quality rental housing in Queensland.
“While on the one hand, this Budget introduces a welcome increase in investment in social housing, this is being hampered by the many policy and regulatory changes currently underway within Government that will directly impact the cost of new housing,” said Ms Williams.
“Just today the OECD highlighted that Australia’s housing crisis is being driven primarily by excessive and restrictive government regulation.
“The Government’s hurried approach to embed changes to the National Construction Code and move to increase charges on development on land within Economic Development Queensland’s remit, are just two examples of the type of harmful regulations the OECD report referred to.”
“While the Government’s critical investment in social housing is most welcome, it must be seen as a down payment on capitalizing on the much larger opportunity ahead as we welcome many new Queenslanders in the lead up to the Olympics.”