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Property News

Multimillion dollar housing scheme earmarked for Queensland

August 07, 2012

Regional mining towns in Queensland will benefit from the local government's $15 million housing initiative to address the state's housing shortage.

State premier Campbell Newman said the government was committed to releasing valuable land in mining towns across the Sunshine State - increasing residential real estate in parts of Queensland.

The housing scheme would immediately take effect in the towns of Moranbah and Blackwater, before being rolled out to Mackay, the Darling Downs and central coast areas.

Under the new initiative land releases held by the Urban Land Development Authority (ULDA) would be freed up for the purpose of property development to provide mining regions with much-needed housing - including rental properties.

Mr Newman commented: "There has been obvious market failure in towns like Moranbah and Blackwater where there is an inadequate supply of land and therefore of affordable.

"The greatest impact on the affordability of housing the government can have is to increase land supply to the general market and deliver more lots, more quickly."

The multimillion dollar investment would enable the development of 185 housing allotments in Blackwater and Moranbah, Mr Newman explained.

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