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“Confirmation that Project Trust Account requirements will not be extended lower than the current $10 million contract threshold is a hugely welcome relief for small building and trades businesses. Many would not have coped with the extra burden on their business that was going to be mandated in a month’s time, and it certainly would not have helped to build more homes” Mr Roberts said.
“Abolishing complicated financial reporting for around 50,000 smaller businesses working to build and improve Queensland homes will also make wading through the red tape easier.
“HIA is also looking forward to working closely with the new government to further streamline business requirements through an upcoming review of the operations of the QBCC, through setting clear construction code adoption timeframes, and through the introduction of mandatory statewide housing codes - all confirmed today as planned future actions of the Crisafulli government,” Mr Roberts said.
“For industry to deliver the 50,000+ homes we need to build in Queensland each year, all cylinders have to be firing in home building. We need more detached homes, more multi-residential projects including duplexes, triplexes, townhouses, terraces and small unit blocks, and we need more unit towers to go ahead as well.
“To all those who would get in the way of new home-focused developments and approvals, we need to keep on repeating HIA’s new mantra - Sorry, but we need to build more homes,” concluded Mr Roberts.
“The RBA decision to keep interest rates in restrictive territory today will not stop the improvement in leading indicators of future home building,” stated HIA Senior Economist Tom Devitt.
In mid-June 2025, the NSW Premier released the Housing and Productivity Contribution (HPC) Works-in-Kind Guideline for public consultation.
Today the State Government announced proposed changes to the regulatory powers to investigate registered builders who may be unable to meet the financial requirements of registration. The announcement also included a long-awaited review of the Home Building Contracts Act 1991 (HBCA) and associated laws.
Housing Industry Association welcomes today’s announcement by the Cook Labor Government to review key aspects of the home building contracts legislation and provide the building regulator with additional powers to work with builders in distress.