Queenslanders could soon have even more trouble trying to find homes as the state government pushes for a regulation overhaul of the development industry.
In an Australian first, a Queensland Government-appointed panel are campaigning to have property developers accredited in a bid to provide contractors and other construction employees with minimum standard, transparency and financial security.
The state’s property council have warned that by pushing through the new requirements, Queenslanders could expect to see a significant delay in housing construction along with a slew of new costs.
Public Works Minister Mick de Brenni told the Courier Mail that the state government plans to complete a full cost-benefit analysis to determine whether the changes would positively impact society.
We’re not going to drag our feet on considering these recommendations, but we’re not going to rush either.
Mick de Brenni
According to the review by the three-person panel, developers are believed to have primary responsibility to accurately set “the tone of a project” and influence “payment security, solvency and building quality.”
If the new requirements are successfully pushed through state parliament, developers will require accreditation if the project is valued at over $10 million.
This is expected to change to $1 million by 2025.
In order to obtain accreditation, the developer will need to be recognised as a “fit and proper” person and will be required to participate in up to 10 hours of training annually.
Developers will also be required to work by a government approved code of conduct.
In a bid to provide increased financial security to builders and other contractors, developers will need to prove they have the “appropriate financial capacity” to complete a project before signing a contract.
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