MEDIA STATEMENT: A Fresh Start for Queensland: Crisafulli Government permanently lifts restrictions on home owners renting rooms

A Fresh Start for Queensland: Crisafulli Government permanently lifts restrictions on home owners renting rooms

• From today, new home owners will be able to rent a room without penalty, after Crisafulli Government permanently eased restrictions.
• Change will help ease record low vacancy rates and help boost affordability for first buyers.
• Change delivers on a key commitment by the Crisafulli Government in its 100 Day Plan.

The Crisafulli Government has boosted affordability for first home buyers, moving to permanently allow home buyers to rent out a room from day one without losing grants and concessions.

The Crisafulli Government issued a Ministerial Directive yesterday permanently allowing home owners to legally to rent out a room without losing concessions and grants.

The change, effective from today, will also be formally enshrined in legislation introduced to Parliament next week.

Under the previous Labor government, Queenslanders who received stamp duty concessions and grants were not legally able to sublet their property in the first year of ownership.

The change delivers on a key commitment from the 100 Day Plan and will deliver on the Crisafulli Government’s ambitious plan to raise the rate of home ownership in Queensland, which currently is the lowest of any state.

The policy is part of the Crisafulli Government’s Securing our Housing Foundations Plan which also includes abolishing stamp duty on all new builds for first home buyers.

Queensland Treasurer, Minister for Energy and Minister for Home Ownership, David Janetzki, said boosting affordability and supply was a priority for the Crisafulli Government.

“The Crisafulli Government is making it easier for young Queenslanders to get into their first home, by permanently removing the restrictions that prevent first buyers from renting out a room in the first year,” Minister Janetzki said.

“Treasury modelling shows this will permanently unlock restrictions on 20,000 Queenslanders a year.

“This helps make home ownership more affordable, helping young Queenslanders to get their foot on the property ladder.

“Over the last decade, it has become harder and harder for young Queenslanders to get into their first home and it now takes a historic high of more than 10 years for an average household to save for a 20 per cent home deposit in Brisbane.

“Renters have also seen their weekly rents climb due to plummeting supply, rising more than 17 per cent in Brisbane in just the last two years.

“Our common-sense plan to boost affordability and supply will stem the tide by providing more housing options for Queenslanders.”

ENDS

MEDIA CONTACT: Harry Spicer 0452 118 197