THE Real Estate Institute of Queensland (REIQ) sees the upcoming State Election as a crucial opportunity to address housing challenges in the state.
Its policy paper, Levelling the Playing Field, developed with input from members, stakeholders, and economists, outlines strategies to boost homeownership and stabilise the housing market.
The proposed reforms focus on tax, regulations, and productivity standards to balance the needs of renters, investors, first home buyers, and downsizers, while maintaining Queensland’s appeal as a property investment destination. Proposed reforms include:
- Addressing the home ownership crisis
REIQ emphasises measures to tackle affordability and accessibility issues, making it easier for Queenslanders to purchase homes.
Its goal is to reach a home ownership rate exceeding 70 per cent by 2032, underscoring the need for political leaders to adopt effective policies. - Reforming stamp duty and first homeowner grant
- Stamp duty reform: REIQ proposes abolishing stamp duty for downsizers over 55, offering regionalised exemptions for first home buyers, and transitioning to a land tax model. This shift aims to lower financial barriers and increase housing transactions, thereby freeing up housing stock and encouraging property downsizing.
