MEDIA RELEASE
Residential Activation Fund to kickstart housing supply
The State Government has released guidelines for a new $2 billion Residential Activation Fund designed to deliver infrastructure to support much-needed housing.
Property Council Queensland Executive Director Jess Caire said the fund was exactly what the industry needed to fast track the delivery of new homes.
“The Property Council has long identified the delivery of infrastructure as one of the biggest impediments to delivering housing,” she said.
“In the current market where feasibilities for new housing projects are on razor thin margins, funding a single piece of infrastructure can be the difference between a housing development stacking up or not.
“In many areas the upfront cost of delivering infrastructure can stop a development that has the potential to provide hundreds of homes coming to fruition.
“The Residential Activation Fund will directly address this issue and is geared towards rapidly unlocking housing that is already approved and waiting to be built.
“There is significant demand from industry for this type of fund and I have no doubt that it will be significant in helping catalyse housing development across Queensland.
“The Property Council looks forward to continuing to work with government to ensure that this funding is directed to where there is the greatest need and opportunity to unlock housing supply at scale.
ENDS