The Commonwealth and Queensland Government have joined forces on a $2 billion housing infrastructure deal aimed at delivering more than 51,000 new homes across the state, including over 20,000 dedicated to first home buyers.
The funding compromises of $399 million in grants, and $1.6 billion in concessional loans from the federal government, matched by $399 million from Queensland.
This will go towards enabling infrastructure including roads, water and sewerage in priority growth areas including Mount Peter, Southern Thornlands and Waraba.
Property Council Queensland executive director Jess Caire said the agreement demonstrated what can be achieved when governments align in the delivery of new housing supply.
“This announcement is a timely reminder that when state and federal governments work together on the biggest challenge facing our country, that is getting more homes built, faster, real progress is possible," said Caire.
"The key now is to get on site quickly to start delivering the infrastructure that makes those homes possible roads, water and essential services so more Queenslanders can get a place to call home.”
Master Builders has been calling for increased government funding for housing infrastructure as a key component in increasing supply and affordability, two of the most pressing issues for industry and the community right now.
“The Federal Government’s Budget announcements, stripping away the investment settings that make projects viable, are not conducive to increased housing supply," said Master Builders Australia acting CEO, Melissa Byrne.
"Investors finance up to two in every five new homes built, making them a critical part of the supply equation.
“Australia needs to see a material uplift in supply and governments at all levels must focus on policies that encourage investment, improve efficiency, cut unnecessary red tape and grow the construction workforce while delivering enabling infrastructure.”
“The Queensland Government has already taken steps to fast‑track new builds through the Residential Activation Fund, aimed at speeding up infrastructure connections, a reform we have long called for," said Master Builders Queensland deputy CEO, Michael Hopkins.
“As Queensland’s industry continues to chase federal and state housing targets, we also call on both levels of government to deliver targeted investment to close the workforce gap to boost productivity and deliver housing safely, sooner, and more affordably.”
