34,000 new homes will need to be built in South East Queensland every year under the state government’s bold new regional plan. It will deliver 900,000 new homes by 2046, and one in five must be affordable.
Queensland Government Unveils Ambitious Plan for 900,000 New Homes by 2046
Despite the challenges posed by the housing crisis, the Queensland government has taken a bold step forward with its new regional plan. The South-East Queensland Regional Plan, released today, proposes the construction of 900,000 homes by 2046 – an average of 34,000 new homes per year (Mortgage Business).
The ambitious plan is designed to accommodate the projected population growth in south-east Queensland, which is expected to reach 6 million by 2046 (ABC News).
Significantly, the plan stipulates that one in five of these new homes must be affordable, addressing concerns about the growing problem of housing affordability in the region. However, the Queensland Council of Social Service (QCOSS) has called for more details on how the state will ensure that 20% of the proposed new homes will indeed be affordable (The Guardian).
This growth projection also includes the Gold Coast, which is on track to have an additional 271,000 new dwellings by 2046 (Hot Tomato).
The implementation of this plan is expected to be a significant boost to the construction industry and economy. However, it also presents a considerable challenge for the government to ensure the delivery of high-quality, affordable homes within the stipulated timeframe.
As the Queensland government gears up to tackle this monumental task, stakeholders across the state will be watching closely to see if this ambitious plan can deliver the much-needed solution to the region’s escalating housing crisis.
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