Transport deal adds to growing confidence in property industry

Confirmation of $2.3 Billion of state and federal funding for key transport infrastructure adds to the growing confidence in WA’s property industry.

“The property industry congratulates the state and federal governments for fast-tracking the funding deal”, said WA Executive Director of the Property Council of Australia, Lino Iacomella.

“Business confidence was growing in WA’s property industry however a lot was riding on the outcome of the transport infrastructure funding deal.

“The 17 road and rail projects to be funded will unlock thousands of construction jobs and new home sites and dozens of new community and employment precincts.

Mr. Iacomella also noted that the effectiveness of the infrastructure projects confirmed by the funding deal will depend on local planning regulations also being upgraded to enable development to happen.

“Perth’s 31 local councils need to be directed to streamline their planning laws to ensure that business can invest with confidence across the metropolitan area.

“We can expect an immediate dividend to the state and federal governments with the green light expected for investments into a raft of major centre expansions across Perth”, said Mr. Iacomella.

Media contact: Lino Iacomella | E liacomella@propertycouncil.com.au