REIQ urges swift housing action from new majority government
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Photo by Nishess Shakya
The Real Estate Institute of Queensland has called on the re-elected Labor government to capitalise on its majority position to deliver meaningful housing reform.
REIQ CEO Antonia Mercorella emphasised the unique opportunity created by the election result.
“A second term of Government is a gift. With a majority and momentum, Australians rightly expect to see swift and decisive action to get roofs over heads,” Ms Mercorella said.
The organisation welcomed Labor’s housing initiatives, including two $10 billion funds aimed at increasing housing supply.
“With a policy platform that focuses on first home buyers and includes the $10 billion Housing Australia Future Fund, a new $10 billion fund to build 100,000 homes for first home buyers, the Help to Buy shared equity scheme, and expanded guarantees for first home buyers, Labor has laid important groundwork,” Ms Mercorella said.
The REIQ also endorsed the government’s workforce development measures targeting construction skills.
“Importantly, this is coupled with housing construction apprentice incentives and $78 million to fast track the qualification of 6,000 tradies to help build more homes,” Ms Mercorella said.
Despite these initiatives, the organisation raised concerns about current construction levels falling short of targets needed to address the housing crisis.
The REIQ noted that dwelling completions in the latter half of 2024 averaged 45,100 per quarter, compared to the 60,000 quarterly completions required to meet the national housing target of 1.2 million new homes by mid-2029.
Ms Mercorella suggested that the government consider adopting elements of the opposition’s infrastructure policy.
“Unlocking land through enabling infrastructure is one of the fastest and most effective ways to increase supply, especially in growth corridors and regional areas,” she said.
The organisation also flagged potential issues with Labor’s expanded Help to Buy and First Home Guarantee policies, particularly regarding impacts on lenders mortgage insurance providers.
The REIQ acknowledged the roles of outgoing politicians Peter Dutton and Michael Sukkar in advancing housing policy discussions.
With Queensland hosting the 2032 Olympic Games, Ms Mercorella called for clear federal support for the state’s infrastructure needs.