Queensland budget brings jobs, infrastructure
One of the great things about this time of year is that it's budget season. Not only have Australians already had the federal budget to parse through and get excited over, but since then a number of state budgets have been released to get hearts beating even faster.
In this case, we're talking specifically about the recent Queensland state budget that was released on 14 July. Many of its provisions may have a marked effect on the real estate sector in the Sunshine State, so anyone about to look at real estate in Burpengary East or Deception Bay will want to get up to speed with it.
One of the most notable parts of the budget is infrastructure funding program of $10.1billion over the four years to 2018-19. Not only will it help create what the state government expects to be 27,500 full-time jobs, it could also mean a boost to property values around the state.
Having sufficient public infrastructure is key for the state's expansion going forward, so the state government's attempt to address it is a good sign. Just as important, however, were the jobs the budget is predicted to bring.
"Increased employment opportunities bring economic stability and that will help people make a decision about whether to rent or to buy; whether to stay or to move," explained Real Estate Institute of Queensland CEO Antonia Mercorella in a 14 July statement.
Other measures outlined in the budget include a $500million funding boost to Queensland hospitals and schools, and a $1.6billion jobs plan. All of this and more should make buying property in Morayfield, Narangba and other Moreton Bay areas even more appealing than it is at the moment, particularly given the area's projected growth.