$2.9 billion plan to help most vulnerable in Queensland social housing crisis

Construction will begin on more than 6000 homes over the next four years, as part of a $2.9 billion investment to address Queensland’s social housing crisis.

Construction on more than 6000 homes will start over the next four years as part of a $2.9b social housing investment that’s been heralded as a beacon of hope for Queenslanders at the centre of the state’s property crisis.

While Treasurer Cameron Dick conceded the funding would not clear Queensland’s surging waitlist, which hit 26,397 in September last year, he said it would turbocharge construction and provide critical services.

The government will spend $1.9b to implement the Housing and Homelessness Action Plan 2021-25, which will be delivered as part of the current Queensland Housing Strategy 2017-2027.

This will increase housing supply, upgrade existing dwellings and deliver other crucial services to vulnerable Queenslanders.

QCOSS CEO Aimee McVeigh has welcomed the state’s new approach. Picture: Richard Gosling

The 6365 new homes will be additional to the 2480 homes which have already been completed or started as part of the 2017-27 strategy.

Meanwhile, a new $1b Housing Investment Fund has also been established via the Queensland Titles Registry which will deliver an expected $160m in returns over the next four years.

Queensland Council of Social Service CEO Aimee McVeigh welcomed the investment, saying it was a beacon of hope for people experiencing the “housing crisis”.

“The housing crisis in Queensland is huge,” she said.

“We currently have almost 50,000 people on the social housing register.”

Ms McVeigh said the budget signalled a new approach to housing and homelessness in the Sunshine State.

“This is the first step we have been calling for and provides opportunities for the community, government and private sector to work together toward solving a previously intractable problem,” she said.

The Property Council also welcomed the announcement, with incoming Queensland executive director Jen Williams saying housing shortages were already at a flash point across parts of the state.

“To maintain our enviable lifestyle, we must preserve our affordability advantage and ensure that the most vulnerable members of our community have access to this basic human right,” she said.

“Covid has resulted in many southerners reassessing where and how they want to live.

“And the answer for many is Queensland.”

Mr Dick said it was one of the single biggest social housing investments of any government.

He said the government would make further investments if required.