The Queensland government has passed legislation limiting the frequency of rental increases allowed to once per year.  This new limit will apply to all tenances, both new and existing, from July 1st 2023.  Previously the limit was once every six months but the change brings Queensland into line with most other states. 

Queensland continues to be in the midst of a rental crisis, which exists in the context of larger scale cost of living pressures due to higher interest rates, costs of good and services and supply limitations.  

You can read the full media statement here.

Initially calls from tenant advocacy groups had promoted caps on the amount that rent could be increase by as a reasonable measure, though this cap was criticised by the Real Estate Institute of Queensland and the state governement has chosen not to fight that fight quite yet.  The risk they run is to discourage property investors from investing in Queensland, a feat they almost recently pulled off with proposed changes to land tax that were subsequently, and correctly, ruled out.

Coinciding with the change to legislation announed, the public consultation period for state 2 rental law reforms also opened at the same time.  You can read about the priority areas for Stage 2 reforms here.

My hope is that the so called balance between the needs and renters and those of property owners can be met.