The real estate lobby has called on Queensland’s two major political parties to deliver an accountable housing delivery plan ahead of next week’s state budget.
“Our overall building approvals, dwelling commencements and completions remain stuck below 35,000 new dwellings each year - which is well below what’s required to catch up to demand,” said Antonia Mercorella from the Real Estate Institute of Queensland.
Data from the Australian Bureau of Statistics shows a 13.5 per cent decline in private dwelling apartment approvals in Queensland in the 12 months to April 2024.
Dwelling commencements also dropped 7.4 per cent, as did completions by 1.4 per cent.
Mercorella said a decrease in construction productivity, combined with tradies being absorbed into large-scale infrastructure projects, had impacted the sector.
“It is now taking more than 50 per cent longer to complete a house in Queensland than it did 10 years ago. This points to declining productivity in the sector,” she said.
“We’re not saying that the principles of the Homes for Queenslanders plan aren’t sound, but we are wondering how they can deliver their targets in the current market conditions.
“Queensland has the longest completion times for apartments in the country at 26 months. Ten years ago, this was only 14 months.”