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{{propApi.successMessage}} {{region}} Change locationBudget week housing measures a step forward (Qld)
Budget week housing measures a step forward (Qld)
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“Measures such as waiving stamp duty on some new housing, new housing finance options and cost of living relief were positive announcements that can help young Queenslanders save for a home deposit faster.
“Stamp duty is one of most inefficient and ineffective taxes and HIA is pleased to see both parties committing to some stamp duty reform which we have been advocating for over a number of years.
“We’ve consistently called for cuts to taxes and charges on home building, which constitute more than a third of the cost of the average new house and land package in our state.
“We were delighted to receive confirmation of the LNP’s plan to reinstate the Queensland Productivity Commission, with a first order of business to report on productivity in the building industry.
“We also think that the LNP proposal to adopt a proven shared equity scheme in the vain of WA’s successful Keystart program would be more attractive than the complex federal model the current government is proposing to adopt.
“Disappointingly the government’s Budget, contained no measures to address the significant skills shortages in the construction industry, nor the substantial productivity issues being felt on new apartment construction that is stifling that key market segment and is only going to worsen over the next 12 months.
“The increases in the Foreign Investor Stamp duty charge to 8% and the foreign investor land tax surcharge from 2% to 3% announced in the Budget will likely lock out much needed investment in housing and further restrain the delivery of more rental options, particularly at a time when rental vacancies are at historic lows.
“Other key measures missing that we called on included substantial planning reform to streamline the approval of new housing of all types and reduction of the significant red tape hampering new home building and small business that is driving the cost of construction and pricing new home buyers out of the market.
“So, while there were some welcomed measures in the Budget much more ambitious policy reform is needed for Queensland to reach its share of 1.2 million new home target and the delivery of 50,000 new homes each year over the next five years.
“In the lead up to the Queensland election this year HIA is calling on an incoming Government to establish a policy agenda that supports a substantial boost to new housing, maintaining and growing a skilled workforce and removing the significant productivity issues crippling the industry,” Mr Roberts said.
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Population data highlights contradiction in government policy
“Australia’s population reached 27.4 million by the end of 2024, up by 445,900 people, or 1.7 per cent for the year,” stated HIA Senior Economist, Tom Devitt.
Tasmanian Election - Stadium or no stadium we still need housing
The Tasmanian election that no-one wanted to have is in full swing, and while the limited campaign period is unlikely to provide the usual platform to promote key policies and reforms, HIA is calling on both major parties to prioritise housing policies given the significant challenges across the state.
‘Getting Keys in Doors’ shouldn’t be this difficult
“Our dated and complex planning system is littered with speed bumps that could easily be removed”, said Brad Armitage, HIA NSW Executive Director.
New home building contract laws welcomed by HIA
“The Victorian government’s proposal to update home building contract laws to make them fit for use in the 21st century is welcomed by HIA,” stated HIA Executive Director, Keith Ryan.