{"id":1261,"date":"2024-06-17T11:09:54","date_gmt":"2024-06-17T01:09:54","guid":{"rendered":"https:\/\/anp-au.com\/?p=1261"},"modified":"2024-08-01T15:44:31","modified_gmt":"2024-08-01T05:44:31","slug":"2024housingbudget","status":"publish","type":"post","link":"https:\/\/anp-au.com\/en\/2024housingbudget\/","title":{"rendered":"Queensland&#039;s latest housing budget 2024-25: # development incentives, # rental reforms, and # first homeownership subsidies."},"content":{"rendered":"<p>The Queensland government recently announced a series of housing measures in its budget (10th) to alleviate housing pressures faced by Queensland residents. Below is the official announcement in Chinese and English:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Preface<\/h2>\n\n\n\n<p>Queenslanders are facing significant pressures related to housing supply and affordability, driven by record-high demand for housing outstripping supply.<\/p>\n\n\n\n<p>Record-low interest rates, substantial government stimulus and a reduction in average household size during the pandemic, combined with unexpected and record population growth, have led to a surge in demand for homes in Queensland in recent years.<\/p>\n\n\n\n<p>However, construction activity has struggled to keep pace with demand as it has been severely constrained by pandemic-related shortages of materials and labor, severe weather and flooding, and construction company bankruptcies. Rental supply conditions have been extremely tight, with the vacancy rate hovering around 1% for the past two years.<\/p>\n\n\n\n<p>The Queensland Government remains committed to ensuring every Queenslander has access to safe, secure and affordable housing that meets their needs and enables them to participate in the social and economic life of this thriving state.<\/p>\n\n\n\n<p>To achieve this, the government is investing $3.1 billion in housing and homelessness projects as part of its new housing plan, Homes for Queenslanders.<\/p>\n\n\n\n<p>Home for Queenslanders is built around five key pillars:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Build more houses faster<\/h2>\n\n\n\n<p>More Queensland homes need to be built in the right locations, and they need to be built faster. Homes for Queenslanders includes a target of one million new homes by 2046, including 53,500 new social homes. With 951,000 homes in the state delivered by the private sector, collaboration between government, the private sector and the community sector is essential to achieve this goal.<\/p>\n\n\n\n<p>Relevant measures include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A $350 million fund to incentivise infill development and support new housing in suitable locations<\/li>\n\n\n\n<li>A new state government-led development team will be established to streamline decision-making and quickly address planning and infrastructure issues that hinder the construction of new homes, including social and affordable housing.<\/li>\n\n\n\n<li>$12.5 million in targeted, needs-driven funding to help local governments plan strategically and update their planning schemes<\/li>\n\n\n\n<li>Launching the new \u2018Queenslander Signature Design Series\u2019 which will provide clear requirements to expedite the delivery of new homes when those requirements are met, with a focus on viable low to medium density products.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Supporting Queensland tenants<\/h2>\n\n\n\n<p>As Queensland changes, so does our housing system. More people are renting, and staying longer than ever before. The Queensland Government is supporting tenants through reforms to improve the rental experience, as well as products and services to help struggling tenants.<\/p>\n\n\n\n<p>Relevant measures include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Establishing a $160 million tenant relief package to provide more households with immediate cost of living support, including help with bond and rent payments, while new homes are built<\/li>\n\n\n\n<li>Reform rental laws to protect tenants\u2019 rights, including by banning all forms of rent bidding.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">3. Helping first-time homebuyers enter the market<\/h2>\n\n\n\n<p>Over the past eight years, the government has supported 69,000 first-home buyers through the Home Buyer Grant.<\/p>\n\n\n\n<p>To support more first homebuyers, the grant has been increased to $30,000 for the purchase of a new home and will remain available until June 30, 2025, making it one of the most generous programs in the country. By targeting new homes, the government is also encouraging more supply to the market, reducing housing costs in the long term.<\/p>\n\n\n\n<p>The Queensland Government is committed to making the housing system fairer and closing the gaps between Indigenous people in urban, regional and remote areas. The Government&#039;s $61.3 million Our Home Action Plan brings together a range of actions to address systemic challenges and respond to the unique cultural strengths, values and priorities of Indigenous peoples.<\/p>\n\n\n\n<p>Other initiatives include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Supporting social housing tenants to own their own homes through the Sales to Tenants Scheme<\/li>\n\n\n\n<li>Partnered with the Australian Government to implement the Help to Buy scheme, making it easier for up to 40,000 low- and middle-income families across the country to buy a home<\/li>\n\n\n\n<li>Supporting remote and regional Queenslanders by temporarily increasing the income eligibility threshold for Queensland Home Finance loans.<\/li>\n<\/ul>\n\n\n\n<p>The 2024-25 Budget also includes new revenue measures designed to provide relief for first-home buyers. Eligibility for the first-home buyer transfer tax concession will be extended to homes with a taxable value of up to $800,000, up from the current $550,000. First-home buyers will pay no tax on homes valued at up to $700,000 and will receive a partial concession on homes valued at up to $800,000.<\/p>\n\n\n\n<p>In addition, eligibility for the first home buyer transfer tax vacant land concession will be extended to vacant land with a rateable value of up to $500,000, up from the current $400,000.<\/p>\n\n\n\n<p>The changes will increase the maximum value of the First Home Owner Concession by $8,600 (for a total of $17,350) and the maximum value of the First Home Owner Vacant Land Concession by $3,500 (for a total of $10,675).<\/p>\n\n\n\n<p>It is estimated these changes to first homebuyer incentives will benefit around 10,000 first homebuyers each year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Promote the large-scale construction of our social housing<\/h2>\n\n\n\n<p>The Queensland Government has set an ambitious target to deliver 53,500 social housing units by 2046. Through this target, we are meeting the needs of vulnerable Queenslanders through a range of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>8 new youth hostels to provide stable housing and support for young people who are studying or working<\/li>\n\n\n\n<li>10 new or replacement domestic violence shelters to provide immediate safety and protection for women and children<\/li>\n\n\n\n<li>Delivering 1,200 social housing units for Indigenous families through partnerships with Aboriginal and Torres Strait Islander local government authorities and communities<\/li>\n\n\n\n<li>Providing more supportive housing for homeless people across the state.<\/li>\n<\/ul>\n\n\n\n<p>The Queensland Government will continue to work with the Australian Government and the community housing sector to deliver the homes Queenslanders need.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Working to End Homelessness<\/h2>\n\n\n\n<p>Homes for Queenslanders strengthens the Queensland Government&#039;s safety net to help Queenslanders avoid homelessness. The Queensland Government is stepping up its efforts to provide more funding for dedicated homelessness services, more emergency accommodation in regional areas, and more support for Indigenous people and young people.<\/p>\n\n\n\n<p>The Queensland Government is supporting frontline specialist homelessness services with an increase in funding under 20% to boost their capacity while an independent review of the state&#039;s homelessness response is undertaken.<\/p>\n\n\n\n<p>For more information about Homes for Queenslanders, visit www.housing.qld.gov.au\/homesforqueenslanders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Original English text<\/h2>\n\n\n\n<p>Queenslanders are experiencing significant pressures associated with housing availability and affordability, underpinned by all-time high housing demand surpassing supply.<\/p>\n\n\n\n<p>Record low interest rates, substantial government stimulus and a decrease in the average household size during the pandemic, followed by an unexpected and record increase in the population, drove a surge in demand for housing in Queensland in recent years.<\/p>\n\n\n\n<p>However, construction activity has struggled to keep up with demand, significantly constrained by pandemic-related material and labor shortages, poor weather and flooding, and construction company insolvencies. Rental supply conditions have remained extremely tight, with the vacancy rate hovering around only 1 per cent over the past 2 years.<\/p>\n\n\n\n<p>The Queensland Government is continuing its commitment to ensure that every Queenslander has access to a safe, secure, and affordable home that meets their needs and enables participation in the social and economic life of this prosperous state.<\/p>\n\n\n\n<p>To meet this objective, the government launched its new whole-of-system housing plan,&nbsp;<strong><em>Homes for Queenslanders<\/em><\/strong>. As part of this plan, the government is making a $3.1 billion investment into housing and homelessness initiatives.<\/p>\n\n\n\n<p>Homes for Queenslanders is centered around 5 key pillars:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Build more homes, faster<\/h3>\n\n\n\n<p>More Queensland homes need to be built, in the right locations, and they need to be built faster.&nbsp;<em>Homes for Queenslanders&nbsp;<\/em>includes a target of one million new homes by 2046, including 53,500 new social homes. With 95 per cent of the state&#039;s housing supply being delivered by the private sector, collaboration among government, the private sector and the community sector is needed to reach this goal.<\/p>\n\n\n\n<p>Initiatives include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>a $350 million fund to incentivise infill development to support delivery of new housing in the right locations<\/li>\n\n\n\n<li>a new state facilitated development team to streamline decisions and quickly resolve planning and infrastructure issues delaying new homes, including social and affordable homes<\/li>\n\n\n\n<li>$12.5 million of targeted, needs-based funding for local governments to facilitate strategic planning and updating of their planning schemes<\/li>\n\n\n\n<li>a new Distinctly Queensland Design Series, which will provide clear requirements, that when met, expedite the delivery of new homes with a focus on gentle density products that are viable.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Support Queensland renters<\/h3>\n\n\n\n<p>As Queensland changes, so too does our housing system. More people are renting \u2013 and for longer than ever before. The Queensland Government is supporting renters with reforms to improve the experience of renting, as well as products and services to help renters who are struggling.<\/p>\n\n\n\n<p>Initiatives include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>a $160 million\u00a0<strong>Renters Relief Package\u00a0<\/strong>to give more households immediate cost-of-living support while new homes are being built, including help to pay bonds and rent<\/li>\n\n\n\n<li>reforming rental laws to\u00a0<strong>protect renters&#039; rights<\/strong>, including banning all forms of rent bidding.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Help first homeowners into the market<\/strong><\/h3>\n\n\n\n<p>Over the past 8 years, the government has supported 69,000 first home buyers with homeowner grants.<\/p>\n\n\n\n<p>To support more first homeowners, the grant has been doubled to $30,000 for new homes until 30 June 2025. This is the equal most generous scheme in the country. By targeting it at new homes, the government also encourages more supply into the market to make housing more affordable in the long term.<\/p>\n\n\n\n<p>The Queensland Government is committed to make the housing system fairer and close the gap for First Nations peoples in urban, regional, and remote areas. Backed by a $61.3 million investment, the&nbsp;<strong><em>Our Place Action Plan&nbsp;<\/em><\/strong>brings together a suite of actions that address systemic challenges and respond to the unique cultural strengths, values, and priorities of Aboriginal and Torres Strait Islander peoples in Queensland.<\/p>\n\n\n\n<p>Other initiatives include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>supporting social housing tenants to own their own home through the\u00a0<strong>Sales to<\/strong>\u00a0<strong>Tenants<\/strong>\u00a0<strong>program<\/strong><\/li>\n\n\n\n<li>working with the Australian Government to implement the\u00a0<strong>Help to<\/strong>\u00a0<strong>Buy scheme<\/strong>, which will make it easier for up to 40,000 low and middle income families around Australia to buy a home<\/li>\n\n\n\n<li>supporting Queenslanders in regional and remote locations by temporarily raising the income eligibility threshold for the\u00a0<strong>Queensland Housing<\/strong>\u00a0<strong>Finance Loan<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>The 2024\u201325 Budget also includes new revenue initiatives aimed at providing relief for first home buyers. Eligibility for the transfer duty&nbsp;<strong>first home concession&nbsp;<\/strong>will be extended to homes with a dutiable value up to $800,000, increased from $550,000 currently. First home buyers will pay no duty on homes valued up to $700,000 and will receive a partial concession up to $800,000.<\/p>\n\n\n\n<p>In addition, eligibility for the transfer duty&nbsp;<strong>first home vacant<\/strong>&nbsp;<strong>land concession&nbsp;<\/strong>will be extended to vacant land with a dutiable value up to $500,000, increased from $400,000 currently.<\/p>\n\n\n\n<p>These changes will increase the maximum value of the first home vacant land concession by $8,600 (to a total of $17,350) and the maximum value of the first home vacant land concession by $3,500 (to a total of $10,675).<\/p>\n\n\n\n<p>It is estimated that the changes to the first home buyer concessions will benefit around 10,000 first home buyers per year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Boost our social housing Big Build<\/h3>\n\n\n\n<p>The Queensland Government has set a bold social housing delivery target of 53,500 homes by 2046. Through this target, the needs of vulnerable Queenslanders are being addressed with a pipeline of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>8 new youth foyers to provide stable housing and support for young people who are studying or working<\/li>\n\n\n\n<li>10 new or replaced domestic and family violence shelters to provide immediate safety and protection for women and children<\/li>\n\n\n\n<li>1,200 social homes for First Nations families through partnership with Aboriginal and Torres Strait Islander local government authorities and communities<\/li>\n\n\n\n<li>more supported accommodation places across the state for people experiencing homelessness.<\/li>\n<\/ul>\n\n\n\n<p>The Queensland Government will continue to work with the Australian Government and the community housing sector to deliver the homes Queenslanders need.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Work towards ending homelessness<\/h3>\n\n\n\n<p><em>Homes for Queenslanders&nbsp;<\/em>strengthens the safety net the Queensland Government has put in place to help Queenslanders avoid homelessness. The Queensland Government is ramping up its efforts with more funding for specialist homelessness services, more emergency accommodation in the regions, and more help for First Nations peoples and young people.<\/p>\n\n\n\n<p>The Queensland Government is backing frontline specialist homelessness services with a 20 per cent funding boost to increase their capacity while an independent review of the state&#039;s overall homelessness response is undertaken.<\/p>\n\n\n\n<p>For more information about&nbsp;<em>Homes for Queenslanders<\/em>, please visit the website&nbsp;<a href=\"http:\/\/www.housing.qld.gov.au\/homesforqueenslanders\" target=\"_blank\" rel=\"noreferrer noopener\">www.housing.qld.gov.au\/homesforqueenslanders.<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>\u6fb3\u6d32\u6606\u58eb\u862d\u653f\u5e9c\u65e5\u524d\uff0810\u865f\uff09\u5728\u8ca1\u653f\u9810\u7b97\u8a08\u5283\u64a5\u6b3e\u63a8\u51fa\u4e00\u7cfb\u5217\u7684\u623f\u5c4b\u63aa\u65bd\uff0c\u4ee5\u8212\u7de9\u6606\u5dde\u5c45\u6c11\u7684\u623f\u5c4b\u58d3\u529b\u3002\u4ee5\u4e0b\u662f\u5b98\u65b9\u516c\u544a\u7684 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[],"tags":[64,65,62,63,33],"class_list":["post-1261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-64","tag-65","tag-62","tag-63","tag-33"],"_links":{"self":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/1261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/comments?post=1261"}],"version-history":[{"count":3,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/1261\/revisions"}],"predecessor-version":[{"id":1265,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/1261\/revisions\/1265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/media\/1262"}],"wp:attachment":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/media?parent=1261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/categories?post=1261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/tags?post=1261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}