Stand against “act of ignorance”

AccomNews Wednesday, February 20, 2013

0 1 minute read

Queensland’s peak body for the strata title and body corporate industry has applauded the rejection of proposed bans on short-term holiday letting in Queensland.

The Queensland arm of Strata Community Australia says the proposed move was an act of ignorance that could have caused major harm to property investors.

A Productivity Commission bid was put forward by the Home Unit Owners Association and the Australian Hoteliers Association to ban short-stay letting, however the move was knocked back by the Australian Building Codes Board, based on the effect it would have on Queensland’s property and tourism industry.

Simon Barnard, SCA (Qld) president, says he supports the decision and believes it will benefit both the property and the tourism industry. “Many property investors purchase units in high-tourist areas, with the clear intention of renting the properties to holiday makers, for short periods of time. Queensland’s tourism industry relies heavily on short-stay unit letting.

“This ban had the potential to devastate holiday rentals and to throw the whole market into turmoil.

“We’ve seen reports come out lately claiming that Queensland’s Gold and Sunshine coasts are some of the most unaffordable areas in the world in terms of property. The tourism and property industries are closely connected, so if you put limitations on one of them, you’ll inevitably limit the other.

“Many unit owners purchase property with the intention of using it for short-stay letting, so taking away that option would no doubt affect the number of property purchases in the area.

“Providing that safety conditions are met, we fully support the decision made.

“The ABCB have taken both sides into consideration and have deemed the current regulations to be acceptable. We fully support this move, as well as the decision to conduct another review in two years to ensure all issues are still being addressed,” he said.