2021-12-13 GC Agenda - Item 8 -Attachment 1 - Housing Needs Assessment

in Australia. It is Queensland’s most significant annual rise in residential construction costs on
record.5
Another federal incentive is aimed at encouraging older residents to “downsize” and free up family
homes by allowing them to make a considerable one-off tax-free contribution to their superannuation.
This may particularly appeal to the younger, more active retirees/ empty nesters. However, most of
them will still be buying a replacement home somewhere and places like Noosa are very attractive
to older and retiring persons making a coastal shift to destinations like Noosa Shire.
The ABS releases data on lending indicators. Across Australia, the value of loan commitments rose
significantly between June 2020 and June 2021. Figures 3 and 4 show that since January 2021 there
has been fluctuation in the borrowing for owner occupier housing in Queensland. The first half of the
year particularly saw a fall in new loan commitments for first home buyer owner occupiers. New loan
commitments for investor housing have continued to increase. This has been largely driven by
lending for the purchase of existing dwellings rather than new constructions.
Figure 3 New loan commitments for owner occupier housing (seasonally adjusted), values, Queensland




Source: Australian Bureau of Statistics, Lending indicators August 2021




5 CoreLogic 10 November 2021




Noosa Housing Needs Assessment 2021                                                                  Page 16