What’s in the state budget for your property investment?
State budgets can be a barrage of information, but they're also very important when you're creating a property investment strategy. With potential changes to infrastructure funding, the construction of new homes and identification of new growth hot spots, there's plenty of information that can help you assess the playing field and make an informed decision.
But, as we said, it's a lot to take in! So with the Queensland government releasing its budget this week, it's time to break down what's been released that could be of interest for you.
Interested in infrastructure?
We stress it a lot, and that's because it's important: Infrastructure is fantastic for growth. New roads, new hospitals, new schools, they can all create growth areas and highlight the potential for capital gains. And in the Queensland budget, there has been more than $10 billion committed to this type of investment!
Sports stadiums, more than 75 new trains and $427.3 million for state schools is going to be injected into the Queensland economy, and that's just the tip of the iceberg. By carefully watching where these new developments are going, you can essentially pin potential real estate investment zones onto your map.
Property keeping the economy healthy
When you invest in real estate in Queensland, you aren't just getting your foot in the door for capital gains and long term wealth generation, you're helping to keep the economy zipping along. The state division of the Property Council of Australia called this industry the "white knight" in the state budget, as taxes generated by real estate purchases have enabled a lot more construction - like the above infrastructure.
So while there are complaints about stamp duty and property taxes, it's important to remember that what goes around does often come around. In this case, stamp duty has helped the government facilitate growth in a number of areas, which could benefit your investment plans in the long term.
More employment, more money
One of the other big wins in the budget was a huge raft of new jobs - nearly 30,000, in fact. This sort of economic boost is nothing to be sniffed at! Overall, there is a lot of healthy growth outlined in this budget. If you've had your eye on property investment for a while now, you could do a lot worse than look into purchasing new properties.
Keep an eye on growth hotspots and engage the right wealth coach, and you could find yourself with an excellent setup.