The Property Council of Australia (PCA) has called on Queensland’s 73 local governments to reinvigorate the state’s residential property development sector by keeping infrastructure charges well within state government’s limits.
Recent state government amendments have been introduced to enforce capped infrastructure charges for property development, but the PCA claims that these charges must be set well below the maximum caps if Queensland is to compete with other states.
“It is vital that local governments recognise that they are competing for investment not only with theirneighbouring councils, but with regions right around the country,” said the PCA’s Queensland executive director Kathy Mac Dermott.
“The fact is that Queensland has lost its competitiveness with other states – inpart because ofinfrastructure charges – and the data confirms this.”
She pointed out that between 2006-07 and 2009-10 the value of residential and non-residential building activity inQueensland dropped by 2.6%, whereas New South Wales and Victoria saw 21.4% and 26.7% increases over the same period.
“Queensland’s economy should be burgeoning considering the current resources boom. However theproperty sector continues to stall because we cannot compete for investment,” she said.
“The fact is that it is more expensive to do development in Queensland and investors will send theircapital to the place where it will achieve the best return.”
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