Infrastructure spending drives expansion and directly correlates to strong growth in the commercial property market. The Queensland and Federal Government investment in key infrastructure projects in Queensland is supporting this economic growth and increasing land values.
Over the next four years government infrastructure spending will equal $51.8 billion and provide continued confidence to invest in Queensland.
Some of the key infrastructure projects in Southeast Queensland include; the recently completed Brisbane Airport new runway, which is a $1.1 billion project that has established Brisbane with the most extensive runway system in the country. After the complete vaccine rolls out, this will open the doors to Brisbane to be the new gateway to Asia.
The Inland Rail is a $14.5 billion project that will complete the national freight network by providing 1,700 kilometers of freight rail network between Melbourne, Brisbane, New South Wales and Queensland.
The Cross River Rail is the largest transport project ever built in Queensland. It’s a 10.2 kilometre rail line from Dutton Park to Bowen Hills, including 5.9 kilometers of tunnels under the Brisbane River.
The Brisbane Metro is also a high frequency bus transport project, along with upgrades to the M1 which is jointly funded by Queensland and Federal Governments. Along with interstate migration, this key infrastructure investment will provide the best conditions for the highest growth we have ever experienced in Queensland for commercial and industrial real estate.