The Residential Activation Fund works by ensuring essential services are in place so that land can be made available for housing. Photo: Queensland Government.
The Queensland Government’s Residential Activation Fund has reached a milestone, unlocking more than 100,000 places for Queenslanders to call home in the past 18 months.
In the next round of the fund’s allocations, more than 18,900 homes on the Gold Coast will be fast-tracked with a $146 million investment across multiple projects, bringing the number of dwellings unlocked to more than 100,000.
The fund works by ensuring essential infrastructure such as sewerage, water, roads and power is in place to unlock more land, supporting the growth of housing in communities by helping it to be built faster.
“This is the most significant amount of state funding the Gold Coast has received for critical city-owned infrastructure in decades,” Gold Coast Acting Mayor Mark Hammel said.
“Support also for our Sewer Pump Station Upgrade project will see the city make significant improvements in our efficiencies and delivery of these services in key growth areas.”
Funding has been spread across three projects that will service new developments in Robina, Worongary, Pimpama, Coomera, Upper Coomera and Parkwood, fast-tracking critical infrastructure, including an upgrade to the Merrimac Sewage Treatment Plant, in addition to other road and electrical works.
Deputy Premier and Minister for State Development, Planning and Infrastructure Jarrod Bleijie said: “Availability equals affordability, and by ensuring supply is unlocked, while also delivering a record number of social and affordable homes and support for first-home buyers, we’re delivering a place to call home for more Queenslanders and the fresh start we promised them.”
Round one of the fund unlocked more than 98,000 homes across the state, attracting considerable interest from councils and industry. The next round of the $2 billion fund was fast-tracked, doubling the initial investment.
At least half of the funding for projects must go to rural and regional Queensland, spreading benefits around the state.
The program is a key component of the Crisafulli Government’s Securing Our Housing Foundations Plan, which aims to deliver a million new homes by 2044.
Other measures aimed at increasing housing supply include:
- More than $2 billion in joint state and federal funding to unlock 51,000 homes, including 20,000 for first-time buyers.
- Relief for first-home owners with the $30,000 First Home Owner Grant, locked into the budget for four years.
- Releasing underutilised state land for housing under the Activation Program.
- Introducing a Boost to Buy shared-equity scheme to reduce the deposit gap.
- Boosting rental availability by lifting subletting restrictions.
- Removing stamp duty on new builds.
- Creating a pipeline for 53,500 community and social homes by 2044.
