The Queensland Greens have proposed a plan to build one million affordable homes by 2050, under an ambitious "universal housing scheme."

The party proposes setting up a Queensland Housing Trust, with a target to build 200,000 affordable homes in the first 10 years.

Greens candidate for South Brisbane Amy MacMahon admitted just the first 10-year stretch of the plan alone would cost an estimated $60 billion, but pointed out similar schemes had worked in other countries.

"This plan may seem radical but in countries like Austria and the Netherlands virtually everyone has access to high quality, well-designed social housing," Ms MacMahon said in a statement.

"We will create the Medicare of the 21st century and change millions of people's lives for the better."

The Greens propose to pay for the plan with $10 billion "seed funding" from extra mining royalty revenue previously announced in its "Fair Share" plan.

Queensland's Labor government earlier this year announced $1.5 billion to build five thousand social and affordable houses across the state over the next decade, with around 26,000 people currently on the waiting list to access the dwellings.