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Report
Queensland housing crisis falls well short of national target
ABC NEWS (Australia)
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3/19/2025
New figures from the Property Council shows Queensland is 96,000 homes short of meeting its 2029 national housing target. It's the biggest shortfall in the country next to New South Wales.
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00:00
Under the National Housing Accord, 247,000 homes are needed in Queensland in the next
00:09
four years.
00:10
It's a target that's supposed to curb price growth, but the Property Council of Australia
00:15
says the 96,000 home shortfall is bad news.
00:20
There is no silver bullet to address the housing affordability crisis.
00:23
It is a complex issue.
00:26
The statistics show just 60% of what's needed will be built in time.
00:30
We're very alarmed that we won't hit the 50,000 per year target.
00:36
We think in 24-25 we'll only get to around 32,000 dwellings.
00:40
With vacancy rates at historic lows, it's affecting rental pricing.
00:44
We know if we do focus on hitting our national housing target, we can reduce rents in Queensland
00:51
by $80 a week.
00:54
New South Wales is the worst state when it comes to the shortfall, with Queensland a
00:58
close second.
00:59
Nationally, the lack of supply means the ambitious target of 1.2 million homes over five years
01:06
will lag by a third as builders continue to grapple with construction costs and red tape.
01:12
It is a ticking time bomb.
01:14
There is no quick fix to increase the speed at which they're taking steps.
01:19
The Chris Of Fully government says it is already reducing red tape.
01:23
I don't think we need a report to tell us how bad the housing crisis is and how bad
01:28
it is after a decade of Labor.
01:30
Cost of living and a lack of housing, key voter concerns ahead of the federal election.
01:37
At least, depending on where you are in the country, at least $3 in every 10 to build
01:42
a new home goes to taxes, fees and charges.
01:46
That level of tax is unsustainable.
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