Boosted? Extra

Boosted? Extra

Several readers made contact with us yesterday, asking if we knew about the actual distribution of the Building Boost applications across the state.

We have had a hell of a time getting such information out of the Government, with more than the usual amount of storm walling.  Queensland Labor are next releasing information about the Building Boost in late November.

Me-thinks – and assuming a successful 2018 Gold Coast Commonwealth Games bid (which, by the way, will be announced at 8am this Saturday) – that we might be going to the state polls much sooner than we think.  Several glossy new documents – well, revamped ones really – have been released in recent weeks, including Queensland Government’s 20-year Infrastructure Plan (again!).  But more on this later.

My money is on Anna Bligh calling an election this weekend.  If so, we will be voting this side of Christmas.

The table below outlines the distribution of the Queensland Building Boost applications as at the 7th October – the latest figures available.  Remember, as at 26th October (again, the latest total stats available) 1,113 state-wide applications had been made, of which 379 have been approved.  Now, again, maybe buyers are waiting in the wings and we will see an enormous rush towards January.  I do hope so.  But the stats to date don’t hold that much promise.

Now, let’s draw some attention to the latest version of the state’s 20-year Infrastructure Plan.  It would really help matters (or at least humour us) if the Queensland State Government would at least acknowledge the property industry’s existence.  According to the 20-year Infrastructure Plan, the four key industries behind Queensland’s economic growth are:

  1. agriculture
  2. tourism
  3. manufacturing
  4. mining

No mention of  the property or construction industries.  None at all.  How ironic that this ignorance is highlighted in a document that largely requires the construction industry to implement it.  So, in the lead up to a state election – whenever it is – here are some pertinent facts.

  • The property industry is the largest private sector contributor to the Queensland economy
  • It generates $31 billion of Queensland’s GSP – 13% or one and half times mining’s 8.4%
  • Employs directly 280,000 – the state’s largest direct employer
  • With indirect jobs – 585,000 or 30% total employment in Queensland
  • Single largest contributor to State taxes – $3.8 billion or one-third total state tax revenue
  • In addition, local governments across Queensland collect over $4 billion in rates and charges each year

Sorry if I sound short-changed right now and, frankly, more than a little pissed off!

Oh, and talking about being peeved, don’t get me started on the carbon tax debacle.  I have said enough on this topic.  I will let others do some talking on this for a change.

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This report is republished with permission of Matusik Property Insights.

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