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{{propApi.successMessage}} {{region}} Change locationHousing supply in Queensland falls as foreign investors taxes bite
Housing supply in Queensland falls as foreign investors taxes bite
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“By increasing taxes on foreign investors, we are hampering the state’s ability to increase the supply of housing to meet the record level of migration.
“In addition to paying more than double the amount of Stamp Duty in Queensland compared to domestic investors, they have also seen an increase in costs from the Australian Government in recent years.
“The acute housing shortage in Queensland will continue to deteriorate if investment in new housing continues to attract more taxes and charges.
“We want to attract more investment to Queensland, especially into apartment construction in the SEQ, not tax it away.
“Foreign investors are not competing with first home buyers or forcing up house prices. Quite the opposite.
“Foreign investors can only buy new homes, not established homes. They cannot take the apartments oversees with them, and therefore are increasing the stock of housing.
“For this reason, they have a critical role in increasing the supply of new housing, especially apartments in SEQ.
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This Values Statement sets out HIA's position in relation to the core beliefs and principles that should guide the residential construction industry, shaping how it operates, conducts business, and interacts with all stakeholders.