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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