New action plan and $2.9 billion investment set to fast-track housing delivery

The Palaszczuk Government is launching a bold new housing plan backed by $1.9 billion investment over four years and a new $1 billion Housing Investment Fund to boost housing supply and increase housing and homelessness support across Queensland.

This is the largest concentrated investment in social housing in Queensland’s history.

Minister for Housing Leeanne Enoch said through the State Budget, and today’s release of the new Queensland Housing Strategy Action Plan 2021-2025, the Palaszczuk Government was acting immediately to address housing needs across Queensland.

“We know the impacts of the COVID-19 pandemic as well as interstate migration are adding more pressure to the housing market, and this is making it harder for people to find a home, especially vulnerable Queenslanders who are experiencing financial stress, Minister Enoch said.

“That is why we are investing $1.9 billion over four years to increase social housing stock and get more vulnerable Queenslanders into homes quicker.

“To support this, we are establishing a new $1 billion Housing Investment Fund, the returns from which will drive new supply to support current and future housing need.

“Under our Action Plan, we will fast-track projects and initiatives that will increase the supply of social housing, seek proposals to develop underutilised state land, and deliver mixed-use developments.

“The Government is increasing the supply of social and affordable housing by almost 10,000 over the life of our Housing Strategy, including 7,400 new builds over the next four years under the Queensland Housing Investment Growth Initiative (QHIGI).

“We will also deliver more support for women and families who are experiencing, or are at risk of, domestic and family violence or homelessness.

“Our Government also recognises the importance of supporting vulnerable people to access housing options and stay in their homes, including through integrated mobile or onsite support services, and this framework is also outlined in the Action Plan.”

“This new Action Plan builds upon the momentum created since the Palaszczuk Government’s 10-year Queensland Housing Strategy was launched in 2017, while also responding to current, unforeseen challenges that Queensland is now facing,” Minister Enoch said.

“The funds will also be used to ready government land for projects, preliminary works on identified sites and scoping and feasibility studies to get more Queenslanders into stable accommodation faster.”

The Queensland Housing Strategy Action Plan 2021-2025 includes an ongoing commitment to deliver essential services to Queenslanders, with an investment of $94.9 million over four years.

This includes essential services for people experiencing homelessness, women and families experiencing domestic and family violence, and dedicated responses for vulnerable young people.

For more information on the Queensland Housing Strategy Action Plan 2021-2025, visit qld.gov.au/housingstrategy.

2021-22 State Budget housing information:

• The Housing and Homelessness Action Plan 2021–25 provides $1.908 billion over four years to boost housing supply and increase housing and homelessness support across Queensland. 
• This comprises:
  • $1.813 billion of expenditure over four years to increase the supply of social housing and upgrade the existing social housing property portfolio, including:

• • • $60 million over two years (held centrally), with $30 million in 2021–22, to fast-track immediate social housing projects and initiatives and prepare a pipeline of work for future years
    • $160 million over four years (held centrally) of anticipated returns from the Queensland Government Housing Investment Fund

• • $94.9 million over four years, $23.7 million in 2021–22, to support the housing and homelessness service system and deliver better outcomes for Queenslanders, including:           

• • • $20 million over four years to expand domestic and family violence support services
    • $20 million over four years for homelessness initiatives including through headleases and crisis housing and supports
    • $54.9 million over four years to fund essential continuing services delivered through the First Housing Action Plan 2017–2020

• The Palaszczuk Government has also established a $1 billion Housing Investment Fund, a long-term fund that will drive new supply to support current and future housing need.
• In 2017, the Palaszczuk Government launched the 10-year Queensland Housing Strategy, with a commitment to deliver 5,500 social and affordable homes by 2027, including through the delivery of the Housing Construction Jobs Program. The Government exceeded its targets, and 2,480 social housing commencements were recorded in the first four years
• Under the new Action Plan 2021-25, we will commence 6,365 new social and affordable homes before 30 June 2025
• This new commitment, combined with the homes already delivered since 2017, will commencement on a total of 8,845 new social and affordable homes over the eight years from 2017-2025
• This is a net increase of 3,345 on the number of social and affordable homes committed under the 2017 strategy

ENDS

Media contact: Pam Frost 0437 859 987