Friday 22 March 2024
MEDIA RELEASE
Manufactured Homes regulation puts further squeeze on new housing supply
Queensland Parliament yesterday introduced changes to the Manufactured Homes (Residential Parks) Act 2003 (MHRP Act) that risk future investment into the sector whilst adding further pressure to the housing market.
The Property Council has condemned the new measures that will introduce rent caps across the critical manufactured home sector, along with increasing regulations that will only serve to drive up costs.
“This Bill sees us taking a backward step in boosting much needed supply and will only discourage investment in new manufactured home parks,” Queensland Executive Director Jess Caire said.
“The only way to drive down the cost of rents is to boost supply, not add more regulation which in turn drives out investment.
“Manufactured home parks bridge the gap between private rentals and home ownership in Queensland, and this bill is likely to deliver the opposite of the policy intent – that is to give consumers protection and ensure viability of these communities.
“At a time when Queenslanders are struggling to access a home due to record low supply, these changes are contrary to the governments focus to boost supply.
Ms Caire said the Bill would also reduce maintenance budgets, and result in some manufactured home parks becoming financially unviable.
“These communities rely on rents to keep the lights on, maintain communal facilities and deliver critical upgrades; and these changes put that at significant risk, Ms Caire said.
“Given the uncertain economic environment there has never been a more important time to provide industry with confidence to invest and give the Queenslanders who call these communities home certainty and security, Ms Caire explained.
ENDS
Media contact: Matthew Johnson | 0447 667 502 | [email protected]