Home Property Australia Queensland Govt announces $3.1b housing plan

Queensland Govt announces $3.1b housing plan

  • February 07, 2024
  • by Property Australia
Premier Steven Miles and Minister for Housing Meaghan Scanlon

The Queensland Government has announced its $3.1 billion Homes for Queenslanders plan which promises to build more homes faster. 

The plan is split into four pillars, the first one, build more homes, faster, starts with a target to deliver 1 million new homes by 2046.

Premier Steven Mills said 95 per cent will need to be in the private housing market which is “why we will fund the trunk infrastructure to encourage more development”. 

This means $350 million will be invested in the new Incentivising Infill Fund to encourage development in underutilised areas – close to jobs, services and facilities.

“This funding is in direct response to the feedback we’ve received from industry,” Premier Miles said.

“My government is listening, and we want to work together to get the job done.

“As Queensland grows, so must our approach to partnering with industry players to unlock more social and affordable homes.”

The Property Council’s incoming Queensland Executive Director Jess Caire said the state government’s announcement of $350 million in infrastructure waivers would help unlock much needed housing.

“It is has never been more expensive to build homes in Queensland and this is a welcome initiative that will assist in fast tracking much needed supply by addressing the single biggest barrier to delivery– cost,” she said.

“Research commissioned by the Property Council last year reinforced infrastructure charging relief as a key lever in facilitating development and fast-tracking new housing.”

“It is pleasing to see the government has listened to industry’s feedback that more needs to be done to bolster the viability of new housing projects.

“We look forward to working with them on the detail to ensure it achieves its intended outcome – rapidly unlocking much needed housing supply for Queenslanders.”

Ms Caire also welcomed the state government’s commitment to working with the industry to trial projects on government land that include a diversity of market and affordable housing.

“The private industry provides the vast majority of housing across Queensland, and it is pleasing to see government willing to work with the private sector to get more Queenslanders in homes sooner,” she said.

The second pillar of the plan revolves around supporting renters by investing $160 million in a Renters Relief Package over five years.

The government will also establish a portable bond scheme allowing tenants to transfer their bonds when relocating from one rental property to another and rental bidding will be banned.

The third pillar in the plan is helping first home owners, mainly through the doubled to $30,000 Queensland First Home Owner Grant, which is now the highest grant available in mainland Australia.

The last pillar is involves boosting social housing. The government has set a target of delivering 53,500 social homes by 2046.

“I understand the importance of having a place to call home,” Premier Miles said.

“Having our own home gave me and my family security, stability and a sense of pride.

“Kids growing up in Queensland today should have the same opportunity as I did to buy a house.

“I will continue to work hard everyday for Queenslanders to make this a reality.”