Qld housing crisis: What you have to say

Queensland’s housing crisis is going from bad to worse and there is growing anger over the solutions – or lack of. JOIN THE CONVERSATION

• Bleak picture: Investors flee state

Investors have fled the state and now some Queenslanders want to head off too.

Shock new data revealed Queensland’s new-investor loan value had plummeted by 24 per cent in the past year – higher than the national average of a 20.9 per cent fall.

It comes in the wake of The Courier-Mail’s rental crisis investigation series, which saw the government accused of contributing to the ballooning crisis with continuing tinkering of rental laws, taxation and regulatory changes – in turn driving out private market investment.

Now readers are sharing their thoughts – with mixed reviews about the state of play.

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Daniel provided a statistical analysis of the situation.

“A real estate friend of mine once told me that the rule of thumb for property investment is an annual gross rental return of 5% of the property value. So $1 million property should return $50,000 per year, or almost $1000 per week. Remember, landlords are investing. They aren’t there to provide social housing. That’s the government’s job. Expecting a 5% return isn’t greedy when you can get more than that with a term deposit, when inflation is 5.6% and banks are charging over 6% interest. High rents are just a symptom of the inflated property values, not greedy landlords.”

NotMe

“We’re not a communist state or country, so I’m not certain government should be doing anything other than offering some additions to the housing scheme. BTW, all those bleating on about it need to be careful, taxpayers will foot the bill with any government scheme. The LNP backed private sector need to step up and not gouge people as they usually do to assist with the problem.”

Housing Minister Meaghan Scanlon. Picture: Liam Kidston

Allan

“The State government has failed on two fronts. Firstly, they have not built enough social housing over the past 8 or so years and have fallen behind. Secondly, they have scared off a lot of investors by continually tinkering or attempting to tinker with the rules for investment properties in Qld.

Add to this the attitude they give to developers and there should be no surprise that we are where we are.”

Stephen

“I think this is another of the Goverment’s thought bubbles to change the rights of tenants and make it hard for Landlords that has backfired, the good idea spin doctors don’t think these things through.”

Cameron

“Having 1 or 2 investment properties were an important part of setting up retirement. Now with all the roadblocks and risk/costs in property investment, loading up SUPER again is back!”

John

“In the bus in Brisbane the other day and you see people sleeping on the street in bus shelters and tents in public parks. This is atrocious in Brisbane in 2023. Has the government lost control?”

Grant

“They are clueless and doing everything to make it worse. You can’t make this stuff up honestly!”