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Housing Investment Fund

On Tuesday 1 August, I asked the Treasurer how many houses had actually been funded with money from the Housing Investment Fund.

You can read my question below, or find the full transcript and video link in the official Queensland Parliament Record of Proceedings (Hansard).


My question is for the Treasurer. Can you please provide us with a breakdown of the amount of public, community and affordable housing that has been funded from the Housing Investment Fund?



I am happy to come back to the committee with greater detail but we have made public announcements, member for South Brisbane, on what we have invested in. I have done that in the parliament, by media release, or by media statement. I have made those details clear, but I am happy to give you the numbers. Insofar as I was responsible for the Housing Investment Fund, I am happy to provide that information to you. That fund is now the responsibility of the housing minister.



You will come back with that information, or the housing minister will?



I am happy to come back.



There is a note that you will come back with that information by the end of the session.



The two broad tranches will be housing that we have agreed to commence through an agreement with the Brisbane Housing Company, supported by the Australian Retirement Trust and the
Queensland Investment Corporation. Then, there are other homes that are funded by the state through the Housing Investment Fund to purchase homes that are currently in the National Rental Affordability Scheme. That is the broad picture, but I will come back with some details there—some numbers


The member for South Brisbane asked about the amount of public, community and affordable housing funded through the Housing Investment Fund. As I touched on during the hearing, the Housing Investment Fund is now administered by the Minister for Housing, but I am advised the Housing Investment Fund has 1,500 homes approved. The first two developments in Redcliffe and Chermside will deliver 118 homes.

Construction on the Chermside site commenced on 14 July 2023 and Redcliffe is expected to commence shortly. I am advised that the Brisbane Housing Co. expects tenanting of the Chermside development to commence in the middle of next year and tenanting for the Redcliffe development to commence late next year.

However, I make the point that the Brisbane Housing Co., like every construction entity in the state, is not immune to the impact of the rising cost of labour and construction materials when it comes to construction, including retaining an appropriate builder to build those premises, and the delay in those projects should not be put at the feet of the Brisbane Housing Co. and nor should they be criticised by anyone. They are a great organisation that has produced and supported Queenslanders for many years.

I am further advised that the government has also committed to purchase 335 ex-National Rental Affordability Scheme homes in Townsville and South-East Queensland for social housing through the Housing Investment Fund. These are properties that would otherwise have been lost from the social and affordable housing market. I am advised the first 94 properties have been purchased, with 82
tenants now moved in.

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