Premier told to rule out ‘last straw’ rent cap policy

Greens politicians have claimed a win as Premier Steven Miles refuses to rule out a statewide rent cap, causing a property expert to warn even rumours of the move would scare investors.

Premier Steven Miles makes a health announcement at Ipswich Hospital. Picture: NewsWire / Glenn Campbell

Premier Steven Miles has been accused of crumbling under pressure from the Greens after he refused to rule out a statewide rent cap, hinting he would have “lots to say” about housing between now and the election.

It follows media reports speculating that the government was considering a rent cap scheme to be announced during the upcoming election campaign.

The Premier, asked on Thursday, whether there was any truth to the rumours, refused to rule out a future rent cap announcement.

“I’m not going to get into the business of ruling things in and out because I intend to have lots to say between now and the election,” he said.

The Greens have now claimed the government is succumbing to pressure after the minor party proposed a rent cap policy back in 2022.

Greens MP and Member for South Brisbane Amy McMahon. Picture: NCA NewsWire/Tertius Pickard

“Make no mistake, the only reason Labor is finally considering something they’ve opposed for years is because they’re under massive pressure from the Greens this election,” Greens MP Amy McMahon said.

Renter policies are a major campaign platform for the Greens this year, with the party targeting key inner-city seats with high tenant populations in McConnel, Cooper, Greenslopes and Miller.

Federal Greens MP Max Chandler-Mather said the Greens were “forcing” concessions from both Labor and the LNP.

“First they mock you, then they fight you, then they adopt your policies,” he said.

Real Estate Institute of Queensland chief executive Antonia Mercorella slammed the “eleventh-hour election play”.

“Not only would it signal broken promises and a major backflip from the Miles Government, but it would be the last straw for many investors who had endured a legislative onslaught over the last four years,” she said.

Property Council of Australia Queensland executive director Jess Caire. Picture: David Clark

Despite his refusal to rule out a future rent cap, the Premier said his previous comments about rental caps having a perverse effect on the market still stood.

Property Council Queensland executive director Jess Caire warned that tenants would ultimately suffer from rent caps and controls.

“Every investment property sold is one less in the rental market,” she said.

But Community service peak body Q Shelter chief executive Fiona Caniglia said it was time to put tenants first.

“While some property investors have enjoyed capital gains, tenants have been unable to stretch their incomes to meet escalating living costs,” she said.

“Q Shelter has also heard from property investors who have chosen not to increase rents and are pushing back at proposals to charge excessive increases.

“While this is commendable, it doesn’t replace the value of having certainty through legislation.”