State News

Queensland Housing Crisis: Hope Fades For Home Ownership Under Labor

26 October 2023

Queensland Has Lowest Home Ownership In Nation

The Great Australian Dream is becoming a shocking nightmare in Queensland, with alarming new revelations young people believe they will never afford to buy their own home in Queensland.

The new Generations Defined Report reveals 63 per cent of Gen Z Queenslanders want to buy a home but just 47 per cent of them believe they can ever afford to.

Queensland has the lowest rate of home ownership of any state, at just 64 per cent, and just 35 per cent of Queenslanders aged 25-29 own their own home today. 

After nearly a decade of this Labor Government, home ownership is becoming increasingly out of reach during the Queensland Housing Crisis.

After nearly a decade of this Labor Government, lot and building approvals have both declined by 30 per cent, sending rents and house prices soaring.

Shadow Treasurer and Shadow Minister for Home Ownership David Janetzki said every Queenslander should be able to aspire to owning their own home, which is why the LNP is prioritising home ownership.

“Queenslanders are losing hope in the Great Australian Dream of home ownership and the situation has never been more dire for young people wanting to purchase their first home,” Mr Janetzki said.

“Never before have so many young Queenslanders wanted to own a home, and never before have so many believed it is out of reach.

“This is not the future we should aspire to, which is why the LNP is committed to delivering a big boost into home ownership for Queenslanders.

“Only the LNP has the Right Priorities for Queensland’s Future, which is why our priority is securing our housing foundations.

“Our priority is helping Queenslanders realise their dream of owning their own home, by improving housing affordability with more land supply and planning for the infrastructure and services to accommodate our growing population.

“The LNP is the party of home ownership, which is why an LNP Government will help Queenslanders into home ownership through tax relief, incentives, and land supply.

“We will prioritise opening up more land with supporting infrastructure giving more Queenslanders the opportunity to own their own home.

“We will prioritise building an incentive framework to support home ownership, examining areas including first home-owner grants and shared responsibility schemes.

“We will prioritise developing options to open up more land with supporting infrastructure to open up supply lines giving more Queenslanders more of an opportunity to own their own home.

“While it might not be everyone’s dream to own a home, an LNP government will make it more achievable for every Queenslander who wants to.”

SOURCE: The Generations Defined Report, 2023; Census Housing Data