Thursday 13 April 2023
MEDIA RELEASE
Housing supply remains property industry’s top priority
With demand for housing in Queensland continuing apace, both housing supply and affordability remain the most critical issues for governments to address, according to the latest ANZ/Property Council Survey.
Despite a marginal reduction in sentiment from 114 points in the December 2022 quarter to 112 index points in the March 2023 quarter, industry sentiment in Queensland remains in positive territory. A score of 100 index points is considered neutral.
Notably, sentiment in Queensland has fallen slightly behind the national average of 113 points.
The survey results reinforced that housing supply and affordability remain the topmost priority for both the Australian and state governments to address.
Property Council Queensland Executive Director Jen Williams said while many factors were impacting on industry confidence, the ability to attract skilled workers and secure a place for them to live remained top of mind.
“Through the landmark Housing Summit in October and subsequent outcomes report, many welcome commitments have been made to address the housing crisis on our doorstep,” Ms Williams said.
“In particular, the Property Council welcomed the announcement of incentives to help purpose-built rental housing (build-to-rent) overcome barriers to its delivery at scale.
“With continued interstate migration, record spending on health infrastructure about to kick off, and the Brisbane 2032 Olympic and Paralympic Games to look forward to, concerns are arising regarding the state’s capacity to deliver on these once-in-a-generation opportunities.
“Despite Queensland having all the ingredients for success, the reality is that attracting investment in housing will be critical to ensuring our state has the workforce needed to deliver positive outcomes for current and future generations.
“In the lead up to the State Budget in June, the Property Council encourages the Queensland Government to explore further opportunities to unlock private sector investment in housing, including through the removal of punitive foreign investor surcharges.
“The property sector stands ready to respond to the housing crisis and looks forward to working with the Government on its future plans to fast track the delivery of housing in Queensland,” she said.
ENDS
Media contact: Bryn Moffatt | 0421 766 613 | [email protected]