More than 200 people from across the Queensland property sector were on hand at a Property Council lunch today as Premier Steven Miles announced the release of $350 million in funding to incentivise infill development.
The Premier said the Incentivising Infill Development Fund would see the state government pay the cost of infrastructure for eligible projects close to transport, helping to deliver well located homes.
Property Council Executive Director Jess Caire said the fund was a welcome step in delivering much needed housing.
“The announcement of the fund follows advocacy from the Property Council highlighting infrastructure charges as a barrier in the delivery of more homes across the state,” Ms Caire said.
“What will be critical is getting the flow of these funds out the door as quickly as possible so we can get homes out of the ground.”
“The Property Council sees infrastructure relief as an efficient and effective measure to assist in the delivery of well-located homes serviced by existing infrastructure.”
“As we have previously acknowledged measures such as this initiative are a great first step, we do call on the government to utilise the upcoming State Budget to review our outdated and prohibitive tax and duty regime.”
“Reviewing our tax settings is essential to both attract investment in new houses and improve affordability for Queenslanders.”
Property Council will work with members to respond to the guidelines.
More information on the fund guidelines can be found online.