Queensland Government encourages homelessness in latest budget

Another state budget released…another fail for the housing crisis currently crippling Queensland.

On Wednesday the Palaszczuk Government released its 2023-24 Budget, claiming it’s investing in ‘the things that matter to all Queenslanders – tackling the cost of living, and delivering improved services in health, housing and community safety’.

As a recap, when it comes to alleviating housing pressures, the State Government allocated:

• $1.1 billion in increased funding to drive social housing delivery and supply
• Over $250 million for housing and homeless support services
• Built-to-rent tax concessions for eligible developments providing affordable dwellings at discounted rents
• Doubling the Housing Investment Fund to $2 billion, to support commencements of 5,600 social and affordable homes by 30 June 2027.

Sounds like a lot of money and commitment right? Unfortunately, it’s actually evidence the State Government does not understand the real causes or solutions. You can’t be the cause AND the cure. You can’t do versions of what has been done in the past, the same things that led to this crisis, and expect those things to be the solution.

To solve the crisis we need radical action and courage – and neither of those are present in this budget.

The commitment to built-to-rent and social housing does not meet the existing demand of pre-crisis..and that demand is escalating quickly – therefore the budget not only falls well short, it continues to exacerbate the issue. In effect, they are guaranteeing more people at risk.

The true answer to solving the housing crisis is the very people who already house 90% of all renters, 1.5M Queenslanders, and the same people who have been encouraged out of the market which has left so many tenants at risk…the ones we need more of, residential property investors.

No other group has the ability to bring more stock to the market so quickly, yet there was nothing in this budget to aid or incentivise investors to do this. No acknowledgment at all.

What we need is a government that will give residential investors confidence and empower them to provide more supply. At Investor Property we are working to promote change in this area with all three levels of government, but in the meantime we are also empowering property investors to be part of the solution.

We are so passionate about, and genuinely believe in our strategy process, as it allows investors to build financial freedom while also providing much-needed housing for our struggling community.

The Queensland Government has failed the community with this budget, so it is up to us to do what we can and be part of the solution.

There is opportunity in the mayhem if done well. Contact us today to discover how you can be part of the solution while improving your own financial security.

If you haven’t already, help us get the message to the government by putting your name to the cause, it only takes 15 seconds.

For more on the importance of property investors, listen to the latest Homes for Everyone podcast.