1,200 new social and affordable housing lots have been announced by the Queensland Government, following a partnership agreed to by the Brisbane Housing Company (BHC) and Queensland Investment Corporation (QIC).
The announcement forms part of the government’s pledge to create 7,400 new social and affordable homes by 2026, with $1 billion in funding allocated towards the projects.
"This commercial partnership is a model which has not been seen before in Queensland," says Queensland Treasurer Cameron Dick.
"When applications opened for the $1 billion Housing Investment Fund, we told the market we were seeking proposals which identified new solutions to deliver housing for vulnerable Queenslanders. It will see BHC leverage QIC's strong track record of securing and managing institutional investment to deliver new social and affordable housing."
But the announcement has been met with backlash. Queensland Opposition Leader David Crisafulli believes there is far more to be done to properly address the housing crisis.
"You can't see our rental vacancy rates and 50,000 Queenslanders on the (social housing) waiting list and not be alarmed," he tells the ABC.
"And for the Treasurer to re-announce something from 12 months ago, that's not looking for a housing solution, it's looking for a political one."
The Queensland Council of Social Service (QCOSS) CEO Aimee McVeigh says that the funding allocation conceals the fact that the QLD Government has halved the amount of houses delivered in comparison to the year previous.
"We have 50,000 people — a population around the size of Gympie — on our social housing register, and people are waiting for up to, almost four years for a house. Our social housing register has blown out by 80 percent over the last four years, so 1,200 new homes. It's a drop in the ocean."
McVeigh believes there needs to be approximately 5,000 houses built per year for the next 10 years to alleviate waitlist pressures.
Master Builders Queensland CEO Paul Bidwell says supply and personnel shortages throughout the industry may lead to delayed construction times in a crucial period of the housing crisis.
"It's a shot in the arm for the commercial sector, so there will be a lot of builders who are keen to get hold of this work. The question will be what the cost is, and that's something that will need to be worked out between the housing company and the builders, with input from the state government."
Executive Director of Q Shelter Fiona Caniglia says the state government must look to encourage and involve all stakeholders throughout the initial processes.
"We need a target for all housing, to meet population demand. And then within that, we need a target that meets the true demand for social and affordable homes. And we don't have that.
"We really think that there's encouraging signs that our government, local government, and mayors are coming out to try and see more homes come out of the short-term rental market and into the long-term rental market.
"There's also examples of the private sector coming forward to talk about build to rent models at scale, which would be really positive. It's why we think the state government has a critical role in bringing together those different stakeholders to achieve progress on many fronts."
