How much more rental reform can Queensland Cop
Enhancing Housing Availability and Affordability through Reforms
According to Ms Mercorella, the REIQ backs the collaboration of all three levels of government to propose reforms aimed at boosting housing supply, improving affordability, and effectively managing urban and rural growth within the next six months.
However, she advises the government to exercise caution, as imposing additional restrictions on investors would likely exacerbate the issue of housing affordability. She compares the current reforms to “magic pudding reforms,” suggesting scepticism about their practicality and effectiveness.
Pathways to Home Ownership: Opening Up New Opportunities
Ms Mercorella expressed the REIQ’s positive reception of the Federal Government’s innovative approach to expanding three grant schemes: the First Home Guarantee, the Regional First Home Guarantee, and the Family Home Guarantee.
She highlighted that while the mechanism of the grants remains unchanged, the eligibility criteria have been broadened to be more progressive, enabling more individuals to access this vital support. Notably, “any two eligible individuals” within the definition of couples means that parent and child duos, siblings, or friends are no longer excluded from this assistance.
This change should come as a relief to those who often collaborate and pair up to purchase a property.
While welcoming innovative support for buyers entering the market and acknowledging the capped number of available places, it is crucial to ensure that demand-driving factors are counterbalanced by measures that enhance the housing supply. This is necessary to safeguard long-term affordability and prevent any adverse impact.
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