Lack of affordable rental homes
Today I spoke to Fiona Simpson, Shadow Minister for State Development, Infrastructure, and Planning, about the current housing shortage in Queensland. Listen below to our discussion.
The Cairns rental vacancy is as low as 1.2% compared to Brisbane's vacancy rate of 3.3%, this highlights just how tight our rental market is. Ms. Simpson says the pandemic has put more stress on the rental market and Cairns has now reached a crisis point. There is a lack of affordable rental homes in Cairns and Ms. Simpson believes a 'build to rent' incentive program is needed.
"Part of the answer is the State Government needs a genuine 'build to rent' incentive program that attracts private investment, particularly mum and dad investors, to build new homes for the rental market in this region," says Ms. Simpson.