The Property Council of Australia has welcomed Lord Mayor Campbell Newman’s 2007/08 budget, which includes record spending on infrastructure and a commitment to tackle public transport.
Executive Director, Robert Walker said the property industry was particularly pleased with a record capital spend of $717 million – more than half of which would be spent on infrastructure.
“The Lord Mayor’s commitment to provide key infrastructure and ease Brisbane’s traffic woes through record spending for infrastructure ($421.5m) and public transport ($173m) acknowledges some of the challenges facing Brisbane’s burgeoning population,” Mr Walker said.
“Given massive increases in property valuations in recent months, the average rise in rates seems relatively modest.”
Mr Walker said while the average 18 per cent increase in infrastructure charges was in line with previous consultation with council, the industry remained committed to ensuring the charges were fair, reasonable and transparent, and did not add to the growing affordability crisis.