The Queensland Government is implementing a $ 70 million rental construction pilot project in a move that will see it partner with the private sector to provide long-term rental properties and homes. It’s cheap near Brisbane’s CBD.
The program aims to see subsidized and affordable housing delivery in projects along with homes offered at market rent.
In a notice given before the Financial and Economic Report of the middle of today, Treasurer Jackie Trad said piloting construction to lease to increase the number of long-term rental properties for low-income people to average.
We know that housing affordability is a real problem right across Queensland, according to Trad Trad.
In particular, key city employees, including nurses, hotel staff and carers, may struggle to buy rental properties in the suburbs where they work.
With many metropolitan areas being valuated, the pilot project will provide a targeted rental subsidy to the private sector in exchange for providing affordable rental properties within 10 km of Brisbane’s CBD. .
This model also has the potential to support hundreds of new jobs because the Pilot Project supports the development of a new type of residential property in Queensland, according to Trad Trad.
Queensland’s housing strategy
Queensland Housing Strategy 2017-2027 involves a $ 1.8 billion investment in 10 years to promote targeted investment across the housing sector.
Housing Minister Mick de Brenni said the government has pledged to build more than 1,000 affordable homes in Queensland by 2022, with the construction to hire one of the components to support the deployment. this house.
Once we discover the potential of pilots, in the future, we will be able to explore construction projects for rental in high demand areas across Queensland, Mr. De Deennenn said.
The Queensland real estate industry has welcomed the state government’s commitment, with the director of the Queensland Property Council, Chris Mountford, to describe the move as a win for the real estate industry and tenants. Queensland home.
This is a very welcome step towards creating a new way to provide housing options for Queenslanders, Mount Mountford said.
Mountford said that rental buildings are developed specifically for long-term rentals, often by large institutional investors, who have a strong interest in providing high quality developments. , well managed and attractive.
By partnering with the private sector to bring these projects out of the ground, the government is taking a step to ensure construction for rental has a foothold in the Queensland market.
New South Wales is the first state to fund a dedicated rental construction model earlier this year, with Social Housing Minister Pru Goward unveiling a Communities Plus housing project, at 600- 660 Elizabeth Street in Redfern, will be the home of the first model housing construction country to rent.
Construction model for rental
Rental housing development has become a popular form of housing in the United Kingdom and the United States, designed to support low-to-moderate income people like nurses and child care workers in housing for long-term rent.
It often involves subsidizing developers with projects on private land, while providing tenants in construction projects to lease longer contracts and higher amenities than what Available in the private rental market.
Internationally, construction for rental has brought great results and facilities to tenants and we are looking to see what the open market to offer here, Mitch De Brenni said.
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