Property

Investment plan to sell off Gladstone's housing oversupply

GLADSTONE Regional Council delegates will be pushing to get all of Queensland's local councils to lobby for the first home buyers grant to include existing buildings today.

The delegates, led by mayor Matt Burnett, will put the motion forward at the Local Government Association of Queensland Conference on the Gold Coast.

"The intended impact is to continue to stimulate investment in new housing and to encourage investment in areas with surplus house, resulting in a stable housing sector," the agenda reads.

Gladstone region councillor Kahn Goodluck, mayor Matt Burnett and councillor PJ Sobhanian at the Local Government Association Queensland Conference.
Gladstone region councillor Kahn Goodluck, mayor Matt Burnett and councillor PJ Sobhanian at the Local Government Association Queensland Conference. Gladstone Regional Council

The agenda goes into detail about the oversupply in housing as a result of the liquefied natural gas boom, followed by a decline in the resources sector.

"This substantial oversupply has resulted in an increase in the number of loan defaults which has destabilised the entire housing market," the council's submission to the conference reads.

And in a joint motion, Gladstone's delegates will push for local governments to receive equitable returns from disaster management funds when they use their equipment to clean up after a natural disaster.

"Gladstone Regional Council and all Queensland local governments be reimbursed 100% for council owned plant hire costs incurred whilst performing Natural Disaster Relief and Recovery Arrangements work," the council submitted as its preferred outcome from the lobbying.

Topics:  gladstone gladstone regional council



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