Housing supply key for new leadership

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Thursday 14 December 2023

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Housing supply key for new leadership

The latest results from the Property Council’s industry sentiment survey have revealed that housing supply and affordability is the most critical issue for the state government to respond to ahead of an expected portfolio reshuffle following Premier Annastacia Palaszczuk’s resignation.

Overall, confidence in Queensland’s property sector marginally increased from 114 points in September to 117 points in December – the highest level of confidence since June 2022. A score of 100 index points is considered neutral.

The Property Council’s Queensland Executive Director Jen Williams said the results underpinned the resilience of Queensland’s property sector, however, an undersupply of housing stood out as respondent’s overwhelming area of concern.

“Unsurprisingly, more than 40 per cent of respondents identified housing supply and affordability as their top concern,” Ms Williams said.

“The lack of housing supply impacts every single Queenslander, and the Property Council believes it should be the chief focus for the state government’s new look cabinet.

“The all too prevalent images of people living in tents in Brisbane reinforce that there is simply no time to wait to pull every lever possible to increase housing supply in order to place downward pressure on house prices and rents.

“Industry is looking forward to the delivery of the new South East Queensland Regional Plan which will aim to provide a long-term strategic framework for how we can manage population growth.

“Following that, 2024 is sure to be an eventful year where action on housing will be the determining factor at both local and state government elections.

“The Property Council looks forward to working with the incoming Premier, the government and all political parties next year to bring forward sensible and practical policies that will make a real difference in ensuring every Queenslander can have a roof over their head,” Ms Williams said.

ENDS

Media contact: Matthew Johnson l 0447 667 502 | [email protected]