Incentives needed for jobs
The Cairns region has a long-term average housing development of 1,080 dwellings per year. However, the statistics provided by the Australian Bureau of Statistics for the 2018-19 (up to June 2019) highlights that only 793 homes achieved building approval, a reduction in building approvals by 26.6% from the long-term average for Cairns. A return to the longer-term average could generate approximately 200 jobs in the region.
The Institute has sought to work with Cairns Regional Council to incentivise additional homes and jobs. It has put forward two key measures in place elsewhere for consideration.
Rockhampton Regional Council has a $5,000 new home builder’s grant. The council forecasts that this will trigger an increase in new housing by an additional 50% over the next 18 months, allowing for new subdivisions and new rateable properties.
Brisbane City Council has introduced a new program for first home buyers, by providing them a one-year 50% rates discount up to the value of $1,000. First home owners buying a new or established home or building a new home can access this discount.
The Institute will continue its work advocating for programs that incentivise the delivery of housing for the betterment of the industry and Queenslanders.
Please contact Policy Executive, Robert Tily via email or on (07) 3229 1589 to pass any comments or if you have questions you may ask.