Queensland is leading the nation as home build records continue to be broken, with new Australian Bureau of Statistics (ABS) revealing more than 52,500 homes are under construction in the state.
The Australian Bureau of Statistics, for the quarter to June, is the fourth consecutive record quarter for Queensland’s housing pipeline as the Crisafulli Government continues to repair Labor’s Housing Crisis by delivering more Queenslanders a place to call home.
The number of homes under construction has now skyrocketed by 35.6 per cent in just two years – the highest change in any state by far – after stalling for years during Labor’s decade of decline.
Construction is turning into house keys for Queenslanders too, with completions up by 4.2 per cent over the past two years, after falling by 15 per cent under the former Labor Government.
The data demonstrates the Crisafulli Government’s plan to deliver a place to call home for more Queenslanders is taking effect and addressing Labor’s Housing Crisis.
“Under Labor, new lot approvals stagnated across the State – putting the dream of home ownership even further out of reach for many Queenslanders.
The Crisafulli Government is acting to fix this crisis, but there is still more work to be done for more Queenslanders to have a place to call home,” Member for Scenic Rim, Jon Krause said.
While Federal Budget pressures following this year’s budget has impacted the housing and construction sector across the country, which will be witnessed in future quarters, these figures are proof that the state has been able to get the industry moving and establish a platform to act as a buttress for the impending slowdown.
The Residential Activation Fund is one of the key ways the Crisafulli Government is playing its part to build Queensland’s future and unlock housing supply, by investing in enabling infrastructure that brings forward new residential development across the State.
This fund has already unlocked more than 166,000 homes across Queensland, delivering vital trunk infrastructure so builders can get building faster.
In contrast, Labor’s decade of decline saw housing lot approvals slump by 29 per cent, leading to record-low rental vacancy rates, a skyrocketing social housing waitlist and the lowest home ownership rate in the country.
The Residential Activation Fund is just one of the Crisafulli Government’s range of initiatives delivering a place to call home for more Queenslanders, including:
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More than $2 billion in joint Federal and State funding to unlock 51,000 homes, including 20,000 for first home buyers.
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Releasing underutilised State land for housing under the landmark Land Activation Program.
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Relief for first homeowners with $30,000 First Home Owner Grants continuing and locked into the Budget.
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Supporting first home buyers by removing stamp duty on new builds.
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Introducing a nation-leading Boost to Buy shared equity scheme to help reduce the deposit gap, with half of the up to 2,000 places reserved for regional Queenslanders.
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Increasing rental availability by lifting subletting restrictions for homebuyers receiving grants and concessions.
Premier David Crisafulli said the Government was delivering on its promise to ease Labor’s Housing Crisis.
“Every Queenslander deserves a place to call home, and for the fourth quarter in a row, Queensland has more homes under construction than at any point in the State’s history,” Premier Crisafulli said.
“I want Queenslanders to know that if they dream of owning their own home, we are doing everything we can to make that reality.”
“We are unlocking the door to home ownership across the State, but there’s more to do, and we will continue to pull every lever available to deliver more housing supply.”