Townsville City Council's decision to remove infrastructure charges on developments within its central business district (CBD) has been praised by the Property Council of Australia.
The council has said it will remove these charges over the next four years in order to allow for more Australian property to be built and more jobs to be created in the north-eastern Queensland city.
Queensland executive director of the Property Council of Australia Kathy Mac Dermott said the council's decision sends the message that Townsville's CBD is open for business.
"Developers of new buildings which demonstrably increase the number of people living and working in the CBD will be offered reduced head works charges," she explained.
She went on to say that they will also benefit from the fast tracking of approvals, increased construction hours and cuts to rates and utility fees and charges during construction.
Back in March, the council said that the Queensland government needs to get infrastructure charging levels right or the state's property industry could suffer for a further three years.
Posted by Ravin Chatlani
