Comments by Annastacia Palaszczuk on limiting rent increases have been praised by some economists and panned by the real estate sector
On Tuesday the Real Estate Institute of Queensland demanded the government “immediately withdraw” its comments.
“The thought bubble announcement yesterday around contemplating rent controls shows a government with seemingly no grasp on basic economics,” Mercorella said in a press release.Media reports have included warnings of a “bloodbath”, with “investors tipped to flee the state” if rent controls were introduced.But the chief executive of the Queensland Council of Social Service, Aimee McVeigh, said the government needed to act, with the state facing the worst rent inflation in the nation.
Tenants Queensland’s chief executive, Penny Carr, urged the government to hold its nerve and limit rent increases to 10% above CPI. The deputy premier, Steven Miles, said rents will not be frozen, as investors “will need to see an increased return” due to inflation and rising interest rates.
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