Both the Queensland Premier and the Leader of the Opposition have assured that rent caps will not be introduced, providing much-needed relief to the rental industry. This commitment, made during last week’s Great Debate, has reassured investors that rent control measures won’t be a part of future housing policies, no matter which party comes to power.
Despite this announcement, the ongoing discussion around rent controls continues to create anxiety in the housing market. Industry bodies, including the Property Council of Australia Queensland, the Real Estate Institute of Queensland (REIQ), and the Urban Development Institute of Australia Queensland (UDIA), warn that even the suggestion of rent caps could drive investors out of the market. Without clear and permanent opposition to these policies, they argue, uncertainty will persist, worsening Queensland’s housing crisis.
Jess Caire, Executive Director of the Property Council’s Queensland branch, stressed that rent controls, whether in the form of caps or freezes, would erode investor confidence. “Rent caps may seem like a solution for affordability, but they only push investment away, which is critical for expanding the housing supply,” she said.
REIQ CEO Antonia Mercorella echoed these concerns, pointing out that investors have already endured significant legislative changes. “Introducing rent caps could be the tipping point for many, driving them out of the market and shrinking rental availability further,” she warned.
While some tenant advocacy groups support rent controls to address skyrocketing rental prices, industry experts argue that such measures could worsen the housing crisis by reducing rental supply. For now, Queensland’s political leaders have ruled out rent caps, but the debate around affordable housing is far from settled.