Following the reveal of the State Government’s Homes for Queenslanders plan last week, the Real Estate Institute of Queensland (REIQ) is eager to see the missing details now the announcement dust has settled.
While the detail to date is light, the REIQ understands that the $1.3 billion-dollar five-pillar plan includes:
Build more homes, faster:
l $350m Incentivising Infill Fund, pilot Ground Lease Model, State Facilitated Development Team, Inclusionary Planning Pilot Program
Support Queensland renters:
l $160m Renters Relief Package, more RentConnect officers, Portable Bond Scheme, Code of Conduct
l Law changes regarding rent bidding, installing modifications, entry notice periods, application forms/platforms, reletting costs, fee-free payment options
Help first homeowners into the market:
l Support for First Nations people, Queensland Home Finance Loan Pilot Program, administering Federal Government’s Help to Buy Scheme
Boost social housing Big Build
l $1.25bn plan to deliver 53,500 social homes by 2046
Work towards ending homelessness
l $390m in additional funding for homelessness services, two-worker model, independent sector review, eight new youth foyers
REIQ CEO Antonia Mercorella said the Institute was supportive of the overarching principles of the plan but was still unclear on how the ambitious social housing build goal would be reached.
“The principles are very sound, especially the points that are focused on ramping up supply, and if it can be delivered there’s no doubt it would put Queensland in a much better position than it is in today,” Ms Mercorella said.
“Construction of more social housing is fundamentally important and I think we all want to see our woeful social housing build and growing social housing waitlist turned around.
“However, we’re calling the government to reveal the detail – the roadmap that will take us from here to there, because we’re struggling to understand how it will be different from past targets that have fallen short.
“Yes, we want to be ‘ambitious’, we want to remain hopeful, but without the ‘how’ it’s hard to see these targets being hit.”
Ms Mercorella said the REIQ welcomed the announcements relating to the renters’ relief package, additional staff support, additional funding for homelessness services, the independent sector review and the youth foyers.
“It’s clear that the number of people using homelessness services has grown, so further support is absolutely warranted,” Ms Mercorella said.
“But this will only act as a Band-Aid, and ultimately, we need to solve the problem that is causing more and more people to go to these providers in the first place.”
She said there were missed opportunities in the plan that the REIQ see as being imperative to the multi-faceted solution.
“To really enact change on-the-ground, what’s missing from this plan is addressing the tax environment, the cost of construction and productivity, and support for apprenticeships and skills in Queensland,” Ms Mercorella said.
“We also think the first homeowner support pillar is missing a trick or two – there seems to be a focus on helping people in the rental sphere, but it concerns us that there is no focus on creating pathways to home ownership.
“Queensland has the lowest home ownership rates in Australia, and a concerted focus to turn this around by assisting those who want to transition into owning their own home would have widespread benefits.”
Ms Mercorella said incentives were a great way to spur on housing development.
