Region in box seat for green benefits

RECENT news that General Motors has committed to a major North Queensland investment is yet another sign of the economic opportunities of our region.

Our region has rich supplies of the minerals and energy resources that the world needs for a lower-carbon future.

Combined with our proximity to major Asian markets, our economy is ideally positioned to benefit from the world going green. For these opportunities to be achieved, investment is needed now in the enabling infrastructure — transmission lines like Copperstring and serious expansion of our water storage capacity — that will allow these sectors to progress.

This strong outlook and local economy is also driving great results in the property market, with inquiries bouncing back after a post-election lull.

The challenge now is the significant shortage of available properties. In the residential market, where vacancy rates are persisting at record lows and options for new home construction is limited, the human impact of a property shortage is being acutely felt by many locals.

The same problem is beginning to be felt in the commercial property sector where it risks becoming an economic bottleneck that prevents businesses from growing in our region.

If this issue is to be resolved in a timely manner, governments solutions are needed. It’s pleasing to see the Queensland Government drop their proposed land tax changes which would have exacerbated the current problem but now we need fresh initiatives that will spur on new development and bring more properties to the market. The fastest and most effective solutions will always be those that work with the private sector.