State Government denies Queensland facing home supply shortage

The state has hit back at Opposition claims a land shortage will send house prices soaring – declaring there’s enough land for the next generation.

The State Government has hit back at claims a home supply shortage will send Queensland’s house prices sky high – insisting the region has enough supply for 15 years.

It comes after analysis of Queensland Statisticians Office figures reveals the number of new homes has fallen 22.4 per cent in the past decade to the lowest level since records began – despite Queensland’s population growing 8.3 per cent over the same period.

The figures prompted Opposition Leader David Crisafulli to claim the housing squeeze was a “result of bad planning”.

“We haven’t seen this lack of infrastructure investment in a generation and that’s putting pressure on availability,” he said.

“It’s a great thing people want to move to Queensland so let’s back our warm welcome up with action.”

However, a Department of State Development spokesman hit back at the claims, declaring the government had “a strong plan to manage changing growth”.

An artist impression of Ripley Town Centre – one of the fastest-growing areas in the state.

He said the there was “at least 15 years” of land supply and four years of approvals, which is considered a “strong supply pipeline”.

“The government announced the Building Acceleration Fund in 2020 which is an interest free loan facility available to developers, infrastructure providers and industry to deliver catalyst infrastructure to support new growth,” he said.

“There is also a pipeline of projects of over $51.8bn over the next four years much of which will be going towards infrastructure for new growth.”

Economic Development Queensland has also launched activities in key growth regions of the southeast including Ripley Valley, Flagstone, Yarrabilba and Aura.

“The number of lots registered is dependent on a number of factors, including the market, and is cyclic,” the spokesman said.

“The average of all lot registrations per annum in Queensland from 2001 to December 2020 is just over 7700 lots.

“The vast majority of those lots have been delivered in Southeast Queensland – one of the fastest-growing areas in Australia.”

Originally published as State Government denies Queensland facing home supply shortage