Queensland government to fast-track housing supply with $15m loan

The Palaszczuk government says a $15 million loan will unlock hundreds of much-needed property lots up to six years earlier than planned.

Hundreds of homes will be fast-tracked in North Queensland while a revamp of the Gold Coast City Plan will unlock large swathes of land for new builds, as the Palaszczuk government attempts to tackle the state’s housing crisis.

A $15 million loan through a co-investment from the Palaszczuk government will be spent on the construction of water infrastructure on Mount Peter, on the outskirts of Cairns, which will allow nearly 450 residential lots to be unlocked in a government assigned growth area.

Deputy Premier Steven Miles, who also serves as the state’s Planning Minister, said the boost to stock was much-needed amid the state’s critical shortfall.

“Queensland continues to experience housing supply challenges and our population growth continues to be the highest in Australia,” he said.

“We’re providing $15 million in loan funding to Cairns Regional Council to enable the construction of an 8 megalitres reservoir and associated trunk water network at Mount Peter.”

Deputy Premier Steven Miles said the co-investment will unlock nearly 450 new lots. Picture: NewsWire / Sarah Marshall

The loan will allow additional housing supply to advance to the market up to six years earlier than previously planned, Speaker of the Queensland parliament and Member for Mulgrave Curtis Pitt said.

“There are many families in Cairns and families moving to Cairns who are struggling to find an affordable house,” Mr Pitt said.

“The Palaszczuk government’s investment allows Cairns Regional Council to bring forward this important $18.2 million project which is expected to support 42 jobs.

“Importantly, it will boost associated land development and residential housing — a direct result of the accelerated funding.

“The infrastructure will have the capacity to service an additional 500 lots and a future primary school.”

Mr Miles also announced Tuesday he had approved 20 amendements to the Gold Coast City Plan, which was expected to result in about 730 extra houses.

He described the move as an important step to allow Council to progress development approvals.

“Getting the City Plan right is crucial to cater for population growth, ensuring the Gold Coast remains a liveable place for the community,” he said.

“The Gold Coast City Council’s proposed amendment package is large and complex and includes a number of changes in response to submissions received during the four rounds of public consultation.”

Originally published as Queensland government to fast-track housing supply with $15m loan