Queensland housing crisis falls well short of national target

ABC NEWS (Australia)

New figures from the Property Council shows Queensland is 96,000 homes short of meeting its 2029 national housing target. It's the biggest shortfall in the country next to New South Wales.

Transcript

00:00Under the National Housing Accord, 247,000 homes are needed in Queensland in the next

00:09four years.

00:10It's a target that's supposed to curb price growth, but the Property Council of Australia

00:15says the 96,000 home shortfall is bad news.

00:20There is no silver bullet to address the housing affordability crisis.

00:23It is a complex issue.

00:26The statistics show just 60% of what's needed will be built in time.

00:30We're very alarmed that we won't hit the 50,000 per year target.

00:36We think in 24-25 we'll only get to around 32,000 dwellings.

00:40With vacancy rates at historic lows, it's affecting rental pricing.

00:44We know if we do focus on hitting our national housing target, we can reduce rents in Queensland

00:51by $80 a week.

00:54New South Wales is the worst state when it comes to the shortfall, with Queensland a

00:58close second.

00:59Nationally, the lack of supply means the ambitious target of 1.2 million homes over five years

01:06will lag by a third as builders continue to grapple with construction costs and red tape.

01:12It is a ticking time bomb.

01:14There is no quick fix to increase the speed at which they're taking steps.

01:19The Chris Of Fully government says it is already reducing red tape.

01:23I don't think we need a report to tell us how bad the housing crisis is and how bad

01:28it is after a decade of Labor.

01:30Cost of living and a lack of housing, key voter concerns ahead of the federal election.

01:37At least, depending on where you are in the country, at least $3 in every 10 to build

01:42a new home goes to taxes, fees and charges.

01:46That level of tax is unsustainable.

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