"Stagnant productivity in our construction sector is one of the key factors contributing to the lack of supply across all property types, most notably in the housing sector," Ms Caire said.
"Queensland is on the precipice of an exciting period of growth, requiring a significant amount of housing, businesses and infrastructure, and it will be imperative to lean into every opportunity to bolster productivity, maintain safe worksites and embrace ongoing innovation.
"Recently the National Productivity Commission released a report aimed at addressing productivity issues in Australia's housing sector, and the new QPC will be the vehicle where these issues can be addressed here in Queensland.
"The longer it takes to build a house the more it ends up costing and the wider our housing deficit grows.
"If we want to build new housing supply for our rapidly growing population then productivity must improve and it must improve rapidly, there is no time to waste."
Ms Caire said the Property Council had been calling for the reestablishment of the QPC in recognition of the impact low productivity was having on the supply of new homes, businesses and infrastructure.
"The Property Council has long advocated for the need to reinstate the Queensland Productivity Commission, and we welcome parliament passing this legislation," Ms Caire said.
"The QPC's first order of business will be undertaking a much-needed review into Queensland's building and construction sector, a move which is welcomed by industry.
"The Property Council looks forward to working with the new Queensland Productivity Commission and providing industry's insight into how we can build the supply Queenslanders desperately need in a far more efficient, quick, and most importantly, cost-effective manner," Ms Caire said.
