Proposed call-in further impacts industry confidence
The Queensland Government’s decision to pursue a ministerial call-in for the West Village development at West End is yet another blow to the confidence of Queensland’s property industry.
Whether the Deputy Premier proceeds with the call in or not, this announcement will impact on the industry’s confidence to invest in Queensland, says Jen Williams, Queensland Deputy Executive Director of the Property Council of Australia.
“The ANZ/Property Council Confidence Survey released only two weeks ago, shows that confidence amongst the property industry in Queensland has reached a three year low- a drop that is directly attributable to the Government’s rushed decision to introduce a foreign investor tax,” Ms Williams says.
“The threat of a ministerial call-in not only undermines the existing approval process, but amounts to another example of unwarranted political intervention in one of the few industries that are delivering job-creating projects in Queensland.
“Property is Queensland’s largest industry, providing new housing, offices, shops and community infrastructure, and generating one ninth of the state’s GDP.
“If a masterplanned urban community cannot be delivered on an old industrial site two kilometres from the Queen Street Mall, then where will future development go?
“The Government is currently undertaking a review of the South East Queensland Regional Plan, with a draft due out in October.
“Our conversations with the Department have focused on ‘infill’, ‘the missing middle’ and ‘density done well’.
“Today’s announcement leads the property industry to question the Government’s commitment to delivering on this rhetoric, given that approved development in a well serviced location is again being brought into question.”
Media contact: Jen Williams |M 0448 432 936 |E email@example.com