More Affordable Housing for Brisbane

Brisbane has 107 new affordable apartments thanks to a $30 million joint government and community sector development.

Minister for Housing and Public Works Dr Bruce Flegg today joined Federal Minister for Housing Brendan O’Connor to open the new residential complex in Bowen Hills.

“This development on Hurworth Street will help reduce the housing supply shortage in Brisbane,” Dr Flegg said.

“We need to make sure housing supply matches the current needs of our prospective tenants, which is why this development includes studio apartments and one and two-bedroom units which are in high demand.”

Dr Flegg said the Brisbane Housing Company (BHC) would manage the $30 million project which included social housing, affordable housing rentals and homes for sale.

“More than $9.2 million was provided from the Australian Government’s Nation Building – Social Housing Initiative for this project,” he said.

Dr Flegg said the Australian Government’s scheme provided annual financial incentives for investors to purchase new housing that must be rented at no more than 80 per cent of the market rate.

“To date, 2007 affordable rental properties have been delivered across Queensland and the Newman Government is working hard on further reforms to improve the social housing system,” he said.

“We need to work with the community and business sectors like the BHC to provide well managed, affordable housing that is part of a financially viable system.

“Community housing partnerships like this address the chronic shortage in affordable housing and promote diverse communities where all Queenslanders have a place to live.”

[ENDS] 4 July 2012

Media Contact: Graeme Hallett 0408 763 671