QLD housing shortfall looming, set to squeeze more out of market

A looming shortfall of 36,000 houses is set to put home ownership further out of reach for young people and tighten the rental squeeze in Queensland, with calls for a scorecard to rank the states’ efforts to fix the problem.

A looming shortfall of 36,000 houses is set to put home ownership further out of reach for young people and tighten the rental squeeze in Queensland, the Property Council is warning as it calls for a scorecard to rank states’ efforts to tackle the problem.

In a report released on Wednesday, the Property Council found there would be a shortfall of 36,000 housing lots in Queensland over the next decade, as 220,000 Sydneysiders and Melburnians are expected to move to the Sunshine State in the next five years alone.

Property Council boss Mike Zorbas is calling for the Federal Government to give its Housing Supply and Affordability Council the power to create a public scorecard and rank the states and territories on their housing supply efforts.

He said this should also be used to encourage the states to boost the supply of retirement homes, purpose-built student accommodation and build-to-rent housing.

“We have to change things up. We can’t afford another decade of failure,” Mr Zorbas said.

“Whether it’s owned, rented or social housing, we need to provide more opportunities to produce new and more housing options to meet our growing needs.”

Property Council Queensland director Jen Williams. Picture: NCA NewsWire / John Gass

Property Council Queensland director Jen Williams said the Stark Reality report shed light on the consequences of deteriorating housing availability.

“As South East Queensland continues to experience some of the strongest population growth in the nation, there is an urgent need for policymakers at all levels to work together to deliver a clear plan for how that growth will be accommodated,” Ms Williams said.

Housing Minister Julie Collins, who attended the launch of the report in Canberra on Wednesday, said the Commonwealth was talking to the state and territories about range of housing issues, including social housing, affordable housing and rent-to-buy.

“The point is we don’t have enough supply of every type. We’re going to have to build right across the housing spectrum, and that’s the aspiration of (Labor’s) One Million Homes (policy),” she said.

The Albanese Government’s October budget included a policy to work with the states and private enterprise to have build one million new houses over five years from 2024, including social and affordable rental homes.