The Queensland Government will invest $200 million to build essential infrastructure needed to unlock housing supply, as part of the 2022-23 State Budget.
The Budget includes $200 million for two funds that are investing in the essential infrastructure needed for more new communities across South East Queensland.
A new Growth Acceleration Fund has been created to support the delivery of priority trunk infrastructure needed to develop new communities. An additional $50 million in equity funding has also been approved for the fund to help develop more residential lots and increase dwelling supply, $15 million of this already being allocated to delivery of water and sewer infrastructure in Caboolture West.
The new Growth Acceleration Fund will focus on growth areas in South East Queensland including the Sunshine Coast, Moreton Bay, Brisbane, Redland, and Gold Coast. It will fund new roads, water and sewerage infrastructure and other public facilities.
The Catalyst Infrastructure Fund (CIF) will also receive $150 million in equity funding for the major infrastructure needed to continue the delivery of new communities such as Ripley Valley and Greater Flagstone.
Deputy Premier and Minister for Planning Steven Miles said the funding in the 2022-23 State Budget would unlock more residential lots in new communities.
“The funding will be supplemented by contributions from property developers who will be required to make co-investments of at least 20 percent towards the cost of the major infrastructure going into their development projects,” he said.
“This new infrastructure funding is ensuring we can boost land supply and affordable housing choices.”
Almost 50,000 residential lots are being unlocked in South East Queensland since the 2020 State election, including approximately 30,000 in Caboolture West helping to cater for the region’s expected population surge.