The Queensland Government has announced a cap to rent rises to one per year in a move designed to give renters a fair go, reports Savings.com.au.
The move would bring Queensland into line with other states including Victoria, South Australia, Tasmania and New South Wales, reports The Guardian.
But some say a cap on frequency of rent hikes won’t do much to help tenant affordability without a cap also restricting the amount landlords can charge tenants.
Tenants Queensland chief executive Penny Carr called on the state government to follow the Australian Capital Territory (ACT) government and cap limit rent increases to 10 per cent above the consumer price index (CPI).
The move comes as community groups and housing advocates debate options to address the rental affordability challenges facing tenants.
It’s a complex challenge and one that is facing renters across many Australian cities and states, although Queensland has recently seen higher increases in homelessness, The Guardian reports.
The public and media debate is set to continue.
Meanwhile, in an attempt to boost build-to-rent developments and housing stock, Queensland Treasurer Cameron Dick announced build-to-rent developments would be exempt from the 2% foreign investor surcharge for 20 years, alongside a 50% reduction in land tax, Savings.com.au also reported.
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