The reports confirm what everyone has been saying.
Residents are being squeezed when trying to put a roof over their heads.
Private renters contact my office saying that it is harder and harder to find somewhere to live.
I am frequently receiving reports in my office and from locals telling me that there is almost
next to nothing in the rental market.
This is one of the top issues raised in in my electorate wide survey last year.
Eight of every ten respondents (80.19%) said that there were not enough rentals and 80.5%
said that housing affordability is becoming a problem in the region.
Local real estate agents report a tight property market with rentals snapped up as soon as they
hit the market.
Unfortunately, the State Government is about to make things worse.
The Government’s solution to the tight rental market is to bring in the 10th tax on the property
industry in the last five years.
The Treasurer, Cameron Dick, has proposed changes to Queensland Land Tax provisions
which mean that rent rates will rise even further.
Just before Christmas the treasurer announced he will increase taxes for investors with
properties in multiple states, by taxing them both in their state of residence and the state in
which the property is.
This is a tax hike which investors can either cop on the chin or pass on to their tenants.
In a time when supply of rental homes is at an all-time low, this extra cost will almost
certainly be incorporated into rental prices.
When the Treasurer was asked how many renting families this would impact, he flippantly
said he didn’t know but that it might be around 10,000.
When asked whether he felt bad for people doing it tough he callously said “no, I do not.”
It demonstrates a complete lack of care and interest from the government and the impact of
its decisions.
This is at a time of record high social housing waitlists, record low rental vacancy rates and
rising homelessness.
The pressure on the private rental market is putting further pressure on social or welfare
housing lists.
My office receives calls from distressed residents trying to find crisis accommodation where
the number of properties has shrunk in past years.
*https://www.couriermail.com.au/property/qld-tenants-begging-sellers-to-rent-insteadas-housing-crisis-worsens/news-story/a780909260fc8309ba813cbe188a2ae5
**During his mid-year economic update:
JOURNALIST:
You’re pocketing hundreds of millions of dollars from transfer duty. You’re benefiting
from the housing boom. Your forecasts are saying inflation is going to outstrip wages
growth.
Do you feel at least a little bit bad for people doing it tough in these housing affordability
conditions?
CAMERON DICK:
No, not at all.