- The Palaszczuk Government has launched a new housing plan to boost housing supply and increase housing and homelessness support across Queensland
- The plan is to be backed by a $1.9 billion investment over four years and a new $1 billion Housing Investment Fund
- Under the new Action Plan 2021-25, the QLD government will commence 6365 new social and affordable homes before June 30, 2025
- Property Council welcomed the budget plans but said the government needs to fast track private housing and facilitate the build-to-rent sector
- Everybody’s Home — the national campaign to end homelessness — said the commitment should be matched by government support
The Palaszczuk Government has launched a new housing plan to boost housing supply and increase housing and homelessness support across Queensland.
The plan is to be backed by a $1.9 billion investment over four years and a new $1 billion Housing Investment Fund, culminating in the largest concentrated investment in social housing in Queensland’s history.
“We know the impacts of the COVID-19 pandemic as well as interstate migration are adding more pressure to the housing market, and this is making it harder for people to find a home, especially vulnerable Queenslanders who are experiencing financial stress,” Housing Minister Leeanne Enoch said.
“That is why we are investing $1.9 billion over four years to increase social housing stock and get more vulnerable Queenslanders into homes quicker.
“To support this, we are establishing a new $1 billion Housing Investment Fund, the returns from which will drive new supply to support current and future housing need.”
Ms Enoch said under the plan, the government will fast track projects and initiatives that will increase the supply of social housing, seek proposals to develop under-utilised land, and deliver mixed-use developments.
“The Government is increasing the supply of social and affordable housing by almost 10,000 over the life of our Housing Strategy, including 7,400 new builds over the next four years under the Queensland Housing Investment Growth Initiative,” she said.
“We will also deliver more support for women and families who are experiencing, or are at risk of, domestic and family violence or homelessness.”
Under the new Action Plan 2021-25, the QLD government will commence 6365 new social and affordable homes before June 30, 2025.
This new commitment, combined with the homes already delivered since 2017, will commencement on a total of 8845 new social and affordable homes over the eight years from 2017-2025, according to the government.
Jen Williams, the incoming Queensland Executive Director of the Property Council, said housing shortages are already a problem in some areas of the state, and that keeping housing supply up with population growth will be critical as Queensland leads up to the 2032 Olympics.
“To maintain our enviable lifestyle, we must preserve our affordability advantage and ensure that the most vulnerable members of our community have access to this basic human right,” Ms Williams said.
“Greater investment in social housing will be critical in ensuring the entire community benefits from the opportunities that the state’s newfound international attention will bring.”
Ms Williams also said the government must fast-track and unlock new private housing in greenfield area, facilitate the build-to-rent sector and make delivering new housing simpler and less expensive.
Everybody’s Home — the national campaign to end homelessness — applauded the funding announcement and said the commitment should be matched by government support.
“The Queensland Government’s commitment is powerful and deserves recognition,” national campaign spokesperson Kate Colvin said. “This commitment would go even further if it was backed by a similar contribution from the Federal Government.”