The state government of Queensland has announced that it has already unlocked almost 50,000 residential lots in South East Queensland (SEQ), boosting the supply needed to meet the growing demand in the region.
The creation of the Growth Areas Team and the $92m targetted funding from the state were two main drivers of the increase in the available supply of land.
Steven Miles, deputy premier and minister for state development, said the government has listed increasing land supply as a key priority in its COVID-19 Economic Recovery Plan.
"Our strong health response to the COVID-19 pandemic has created a spike in interstate migration, which has put pressure on land supply across the state," he said.
The $92m investment towards the Building Acceleration Fund was aimed at improving and kickstarting infrastructure projects in communities such as Greater Flagstone and Ripley Valley and priority growth areas like Southern Redland Bay and Caboolture West.
“Greater Flagstone and Ripley Valley are both expected to be home to around 120,000 people, so it’s important we have the right infrastructure in place to support that growth," Miles said.
Below are the areas that registered an increase in residential land supply since Queensland started the project in November:
- Caloundra South – 3,091 lots unlocked
- Caboolture West – 3,000 lots unlocked and $10.5m from Building Acceleration Fund for water supply and sewage infrastructure
- Southern Redland Bay – 5,000 lots unlocked and $15m from Building Acceleration Fund for a new wastewater management plant
- Ripley Valley – 5,600 lots unlocked and $5.91m from Catalyst Infrastructure Fund for critical road infrastructure
- Bahr’s Scrub – 1,700 lots unlocked and $15m from Building Acceleration Fund to improve access and transport efficiency
- Greater Flagstone – 27,000 lots unlocked and $31m from Catalyst Infrastructure Fund for critical road infrastructure
- Yarrabilba – 2,000 lots unlocked and $15m from Building Acceleration Fund for infrastructure for primary school site and roads
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