Confidence has dropped sharply amongst Queensland’s property and construction industry since the election of the new Labor Government, according to new figures released today by the Property Council of Australia.
Shadow Minister for Infrastructure, Planning, Small Business, Employment and Trade Tim Nicholls said the Property Council ANZ June quarter survey showed Queensland had the second largest downward shift in sentiment of any state.
“We have gone from having the strongest government performance index under the LNP in the last quarter, to having the second weakest of all jurisdictions,” Mr Nicholls said.
“This is a direct result of the uncertainty being created by this inexperienced Labor Government and its costing Queenslanders jobs.
“Since its election Labor has cast doubt over major projects like Queen’s Wharf, the Kurilpa Redevelopment, the Cedar Woods development and the Gold Coast Cruise Ship Terminal.
“Industry are now having to wait 12 months while Labor comes up with an infrastructure plan, but they can’t say how they are going to pay for any of their projects.
“The Property Council has made it clear this is impacting confidence in the industry as well as impacting business and consumer confidence more broadly.
“Today’s Property Council survey makes it a quadrella of reports this week highlighting the uncertain economic times ahead under Labor.”
Mr Nicholls said the LNP had worked hard to boost activity in Queensland’s property sector.
“We realised property and construction was one of the mainstays of the Queensland economy,” he said.
“That’s why we had a property and construction sub-committee dedicated to cutting red tape and promoting worthwhile projects.
“We also cut stamp duty, saving families up to $7,175 on the cost of buying a home, we introduced the $15,000 Great Start Grant and we reformed the planning system to cut red tape and bureaucracy and provide more certainty.
“These measures worked, with trend building approvals 15.6 per cent higher in the year to February 2015.
“The Property Council survey must have Queenslanders shaking their heads at the inexperience of this Labor Government and the impact their lack of a plan is having on jobs and the economy.”