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Jobs and Homes Plan

Queensland has lost over 11,000 construction jobs in one month, dwelling approvals have fallen 18% and it’s only going to get worse. Meanwhile, the waiting list for social housing has increased to 39,000 people. A recent report by the Australian Financial Review found that 33% of Queensland households were in housing stress, struggling to pay their rents or mortgages. 

Labor currently plans to build on average 450 social homes a year - when the waiting list for social housing increases by 7000 people a year. Their plan has seen a blowout in the waiting list and will see a decrease in the state’s proportion of social housing from 3.7% to 3%.

Queenslanders need jobs and they need homes, so the Greens will make big banks and massive mining corporations pay their fair share to create 20,000 jobs a year building 100,000 public homes over four years. 

Our plan 

The Queensland Greens would tackle the housing crisis and create 20,248 good full time jobs a year by:

  • Establishing a Queensland Housing Trust that will finance the construction of 100,000  public homes over the next four years and 250,000 homes over 10 years, with a long term target of 20% of all housing stock as public housing
     
  • Seed funding the Queensland Housing Trust with $11 billion over 10 years, raised via a levy on the big banks and higher royalties on mining corporations
     
  • Allocating homes to those currently on Queensland’s social housing waiting list, then make available to every Queenslander regardless of income
     
  • Setting rent at 25% of income  or market rent, whichever is lower  
     
  • Removing ongoing eligibility checks for all public housing and give tenants a lifetime right to their home once it’s allocated 
     
  • Establishing tenant and community design panels that will be given binding power to direct the design and architecture of the housing developments within certain parameters, including maximum 5 storey height limits
     
  • Introducing democratic housing and tenancy management models
     
  • Legislating to introduce inclusionary zoning in South East Queensland 
    • 20% of any new multi-dwelling development to be delivered as public housing stock  
    • To be phased in over 10 years, beginning at
    • 10% and increasing by 5% increments every 5 years

 How it'll be funded

The Queensland Housing Trust will invest $35 billion over four years, with the investment funded by a levy on the big banks, higher mining royalties and state government bonds.  Following that the Housing Trust will use a combination of government bonds and rental revenue to fund further construction.  After 10 years the Queensland Housing Trust will be generating $5 billion a year in rental revenue.  By 2039 rental revenue is forecast to exceed ongoing building and maintenance costs. By 2047 rental revenue will have paid off the debt in its entirety, leaving an asset which will fund the ongoing construction of thousands of new houses and apartments per year as well as providing an extra $10 billion a year in revenue. 

With historically low interest rates and government bond rates, now is the perfect time to borrow to invest in crucial public infrastructure like good homes for Queenslanders that creates jobs and security for Queenslanders.

Year

2021

2022

2023

2024

New houses built

25000

25000

25000

25000

Total houses (cumulative)

25000

50000

75000

100000

% of Queensland households

1.20%

2.40%

3.50%

4.60%

Build cost ($billion)

8.4

8.6

8.8

9.1

Rent revenue less maintenance ($billion)

0.3

0.6

1

1.5

Funding ($billion)

1

1

1.1

1.1

Interest cost ($billion)

-

0.1

0.2

0.3

New borrowing (Build cost - rent revenue - funding + interest) ($billion)

7.4

7.6

7.8

8

Total borrowing ($billion)

7.1

14.2

21.2

28

Regional Allocation of Jobs and Homes

Housing will be distributed across Queensland according to current numbers of households currently rented in each region, and adjusted to account for vacancy rates and the long-term aim to increase density in Brisbane and South East Queensland. This distribution is indicative only and may change as housing conditions evolve.

 

Region

Homes over 4 years

Jobs per year

Brisbane

32,500

6,573

Gold Coast

12,500

2,528

Ipswich

6,500

1,315

Logan, Beaudesert

6,000

1,214

Moreton Bay

8,500

1,719

Sunshine Coast

6,500

1,315

Toowoomba

3,000

607

Wide Bay

5,500

1,112

Cairns

5,500

1,112

Townsville

5,500

1,112

Mackay

2,700

546

Rockhampton

1,800

364

Rest of Qld/Areas of Need

3,500

708

Total

100,000

20,225

Twenty thousand jobs 

The construction industry is the 3rd largest employer in Queensland with over 236,100 employed in Queensland. The latest ABS data has found that construction industry jobs have declined by 5.1% in the last month - this equates to 11,000 jobs

Based on the jobs figures of the Queensland Labor Housing Strategy, The Queensland Housing Trust  would create 20,248 jobs per year throughout Queensland. The Trust will create over 13,000 jobs per year outside Brisbane including over 2000 per year in Townsville and Cairns, more than the 1,500 construction and 100 ongoing jobs touted by Adani. 

The Queensland Housing Trust will be mandated to provide construction jobs to people within the local communities where the housing is being built.