Queensland property experts call for housing reform review

The Real Estate Institute of Queensland (REIQ) has thrown its support behind the state’s new Productivity Commission while urging a thorough review of recent housing reforms.

In a submission to the Governance, Energy and Finance Committee, REIQ called for an examination of how tax and regulatory settings may be hampering the sector’s response to housing demands.

REIQ Acting CEO Katrina Beavon said the commission needed to address fundamental challenges in Queensland’s property market.

“Housing is an essential pillar of our economy and community wellbeing, often regarded as the backbone of stability, but we are concerned that legislative interventions and current tax settings are stifling its potential,” Beavon said.

The submission highlighted several key areas requiring review, including barriers to home ownership and the impact of recent rental market reforms.

Beavon pointed to ongoing challenges despite previous legislative changes.

“Vacancy rates remain critically low, the social housing waitlist remains stubbornly long, and homelessness is on the rise,” she said.

The REIQ expressed particular concern about the effect of reforms on property managers.

“Mounting mental health challenges are pushing property managers out of the industry, with legislative burdens being passed on and effectively functioning as a tax on small businesses,” Beavon said.

The institute called for the commission to hold public hearings to ensure transparent discussion of these issues.

“The Productivity Commission must engage meaningfully with industry experts and stakeholders to ensure its recommendations are practical, balanced and enhance productivity across the housing ecosystem,” Beavon said.