New legislation has been passed in state parliament to support the expansion of new and more affordable housing.
The legislation allows homeowners to donate 0.1Â per cent of their home sale price to an organisation that builds affordable housing.
The not-for-profit organisation, Homes for Homes, has a vision to end homelessness in Australia and has so far raised $1.4 million in funding to 17 projects across the country.
To donate the 0.1 per cent, homeowners must register with Homes for Homes.
Once registered, caveats on land titles will be used to remind sellers of their commitment.
In other states these donations already occur, but Queensland laws on caveat restrictions didn’t allow them here.
According to Homes for Homes, the caveat will remain on the land title after the property has sold so that future owners can also pledge the 0.1 per cent.
Sellers can opt out at any time.
Local real estate agents have praised the program, but some question the reach it will have.
Springwood agent Tom Ovcaric said it was “absolutely a good cause” but worried home owners won’t participate.
“I’d certainly put [the idea] in front of clients,” Mr Ovcaric said.
“It’s something I’d stand behind and I want to put my hand in and try and help.
“Building prices have gone through the roof and more builders are going under, so more affordable homes need to be built.”
Mr Ovcaric said he knew several developers interested in providing cheaper housing in the future.
“At the moment it’s too expensive,” he said.
He said another option was for government to change the allowed density of zoning areas, so more dwellings can be put on one property.
“The most important thing is for people, children and families, to have a place to live,” he said.
Last year, the Queensland government pledged $500,000 seed funding to Homes for Homes.
“We are incredibly excited to be introduced into Queensland through this bill,” Homes for Homes Chief Operating Officer Tracy Longo said.
“Funds raised through Homes for Homes will create more social and affordable housing for Queenslanders on the margins.
“We have already funded four housing projects in Queensland and look forward to expanding and creating more positive change.”
