New housing minister appointed amid Queensland’s property challenges

The Real Estate Institute of Queensland (REIQ) has welcomed the appointment of Clare O’Neil MP as the new Federal Minister for Housing and Homelessness.

REIQ CEO Antonia Mercorella said the appointment comes at a critical time for Queensland’s housing market.

“Queensland’s housing and homelessness challenges are in the spotlight as we attract the focus of the nation and the world as the Olympics nears,” Ms Mercorella said.

The REIQ highlighted several key issues facing Queensland’s housing sector, including lower home ownership rates and a higher proportion of renters compared to the national average.

Ms Mercorella noted that Queensland renters rely heavily on private investors for housing.

“The composition of Queensland housing sees those renters relying heavily on private investors to put a roof over their head,” she said.

The REIQ also pointed to strain in the private rental market and emergency housing resources, with social housing wait times averaging almost two and a half years.

Ms Mercorella expressed interest in discussing federal housing policies with Minister O’Neil, given Queensland’s “unique and urgent challenges”.

The REIQ thanked outgoing Minister Julie Collins for her “ambitious housing agenda” and welcomed opportunities to reconnect regarding the Small Business element of her portfolio.

Minister Collins will retain the Small Business portfolio while also taking on the role of Minister for Agriculture, Fisheries and Forestry.

The appointment of Minister O’Neil comes as part of a cabinet reshuffle by Prime Minister Anthony Albanese.

Housing affordability and accessibility remain key issues for Queensland, with homelessness continuing to be a visible problem in urban areas.

The REIQ said it looks forward to working with the new minister to address these ongoing challenges in the state’s housing market.