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How the Budget Benefits the Property Market

The Sunshine Coast Property Market is in a flurry right now with homes selling off-market within days, rental properties being snapped up by renters within hours and new estates having to release new land lots ahead of schedule and still not satisfying the demand. With the recent release of the Federal Budget there are a…

The Sunshine Coast Property Market is in a flurry right now with homes selling off-market within days, rental properties being snapped up by renters within hours and new estates having to release new land lots ahead of schedule and still not satisfying the demand.

With the recent release of the Federal Budget there are a number of initiatives and financial commitments by government that have us even more confident in the property market for this region.

It’s an investment-led budget focused on getting people back to work, and all this government spending should see the economy improve and gain more confidence. Providing people with jobs, injecting money into the economy and improving the facilities and liveability of a region through such construction projects is a beautiful recipe for a strong property market on the Sunshine Coast.

In addition to infrastructure projects already underway in this region (including the development of the new Maroochydore CBD, the airport upgrades and expansion of the Aura as well as other new suburbs), the new government commitments are to the tune of $1.3bn going to Queensland road and rail projects including the Bruce Hwy Caloundra Rd to Sunshine Motorway.

The budget also includes a number of initiatives that aim to bolster the economy, which will in turn see positive results in property sales and investments:

  • $17.6B in individual income tax relief;
  • “Jobmaker” hiring credit;
  • Businesses Tax Incentive;
  • $1.5bn plan to boost manufacturing, and R&D; and
  • COVID-19 prevention, detection and treatment.