WHILE welcoming federal and WA government’s $3.2 billion infrastructure boost the property industry says it is crucial that Infrastructure WA is established quickly.
Property Council of Australia WA executive director Lino Iacomella said the new infrastructure commitments announced by the Turnbull and McGowan governments this week would allow WA to properly plan for the growth of both the economy and the supporting population.
Mr Iacomella said the joint infrastructure funding announcement would reassure WA communities and businesses that the local economy would return to strong growth and new jobs would be created.
“The property industry in WA was waiting for these announcements to provide the confidence that major infrastructure projects like Metronet will definitely proceed and the associated station precinct developments will go ahead,’’ he said.
“These announcements also vindicate the big increase in business confidence that we have seen in the WA property sector.’’
He said the extra infrastructure funding would also be important in addressing WA’s biggest challenge, which was stopping the talent drain.
“It is crucial that Infrastructure WA is established quickly and with the confidence of these new infrastructure commitments, the state can properly plan for growth of both the economy and the supporting population.’’