Brisbane will run out of available land to build new homes in less than three years – and Noosa has just one year – as a housing crisis grips the state.
The startling projection was revealed via documents released as part of Queensland budget estimates hearings, but Deputy Premier Steven Miles argued that almost 50,000 residential lots were in the process of being unlocked in south-east Queensland following the October 2020 state election.
Under state government rules, all local government areas should have four years’ worth of approved lots – land that is ready to go to market.
But Brisbane has just 2.9 years of approved lot supply, Noosa has 1.1 years, the Gold and Sunshine coasts 1.9 years each, Redland 2.9 years, and Moreton Bay 3.2 years.
But Mr Miles said almost 50,000 residential lots were in the process of being unlocked following the 2020 state election.
“Our strong health response to the COVID-19 pandemic has created a spike in interstate migration which has put pressure on land supply across the state,” he said.
“While COVID has certainly spurred an increase in interstate migration, we would expect to see further increases over the coming years in the lead-up to the 2032 Olympic and Paralympic Games.”
Mr Miles said the majority of the state’s councils had up to 30 years of lot supplies.
In other areas, Bundaberg has 14.9 years, Cairns eight, Gympie 9.6, Ipswich 7.3, Rockhampton 16.2, and Toowoomba 6.1.
Some areas have extremely high rates, with Banana reporting 354 years of supply, Gladstone almost 249 years, and Isaac 363.
Mr Miles said in response to population growth linked to people moving to Queensland from interstate – a boom in new residents not experienced in almost two decades – he established the Growth Areas Team in March 2021.
“The GAT focuses on land supply in south-east Queensland to ensure we can keep up with expected population growth, and the demand for housing and infrastructure development that comes with it,” he said.
Mr Miles said the government had identified Caboolture West as a pilot site for a future growth area program providing 3000 extra homes, while it had also provided $15 million for a wastewater treatment plant to pave the way for up to 5000 extra homes in Southern Redland Bay.
The years of supply are calculated based on uncompleted lot approval and lot certification data prepared by the Queensland Government Statistician’s Office using information provided by councils.
The latest figures come as there are 47,036 people on the state’s social housing register – a 70 per cent increase in just three years – and as rental vacancy rates hit 10-year lows and property prices soar.
According to a report released last year, south-east Queensland needs an extra 31,979 dwellings each year to keep up with demand.
LNP housing spokesman Tim Mander said more land needed to be made available.
“And we need to build the roads, water and sewerage to support it,” he said.
“We must build the infrastructure that protects the lifestyle of the people who live here and that gives opportunities for our kids to get into the market.”
Article Source: www.brisbanetimes.com.au
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