IN RESPONSE to feedback from industry and local governments, the State Government is providing financial incentives towards the building of 90 new homes in the Capalaba, Cleveland and Victoria Point area.
The new homes are among 60 projects to share in $52 million from the State’s $350 million Incentivising Infill Development Fund (IIDF). In total, construction will consist of 1872 homes statewide, near essential services, public transport, schools and jobs.
The fund, part of the Homes for Queenslanders plan, covers infrastructure charges and development application fees for strategically located homes, with a focus on affordability.
By absorbing these infrastructure costs, the fund aims to prevent the costs from being passed on to homebuyers, thereby enhancing housing choice and affordability.
This initiative hopes to accelerate development while ensuring councils have the necessary funding for critical infrastructure to support growth.
Tafolo Realty co-owner Suzie Tafolo said the allocation of 90 dwellings to Redland City would likely present a mix of opportunities and challenges.
“On the positive side, it could alleviate some pressure on housing availability and cater to growing demand, especially in key areas,” Ms Tafolo said.
“However, this will also require careful consideration of infrastructure, traffic management and community amenities to ensure that the increased density does not lead to congestion or strain on local resources.”
With the allocated suburbs being Capalaba, Cleveland, and Victoria Point, Ms Tafolo highlighted these areas were logical choices due to their strategic locations and existing infrastructure.
She said the addition of 90 new homes might stabilise property prices but was unlikely to significantly impact the region.
“While it may not cause a price drop, it could slow the recent rapid increases,” she noted.
“This could lead to a more balanced market, offering buyers more options and reducing competition.”
She added that the overall effect of the new dwellings would largely depend on how well the developments were integrated into the community.
Ms Tafolo noted that suburbs such as Wellington Point, Ormiston, Cleveland, Capalaba, Victoria Point, and Birkdale were experiencing high demand within Redlands.
FAST FACTS
Who can apply?
Applications may be made by the landowner, or a development proponent or development application representative authorised to represent the landowner (i.e. the entity or individual responsible for the development application such as a planning consultant or development manager).
For more about the fund and application process: [email protected].
