South East Queensland

The Queensland State Budget was tabled in State Parliament on 11 June 2019.  The 2019–20 Budget includes a $12.9 billion capital works program which will directly support 40,500 jobs across Queensland.  Key investment includes:

  • During 2019–20, construction is due to commence on the section of the M1 Pacific Motorway between Varsity Lakes and Tugun at an estimated total cost of $1.03 billion.
  • Work will continue on the construction of Cross River Rail – the 10.2km rail line between Dutton Park and Bowen Hills in Brisbane. The State Government has allocated $5.41 billion for the project. The project includes four new underground train stations and two upgraded stations.
  • The Government is investing $1.23 billion in 2019–20 for the construction of new schools and education facilities, as well as significant enhancements to existing buildings.

The Queensland Government will continue to work with the Federal Government to deliver significant Bruce Highway upgrades aimed at improving safety, flood resilience and capacity along its 1,700km length. The 2019–20 works include:

  • $186 million to widen the Bruce Highway from four to six lanes, Caloundra Road to the Sunshine Motorway.
  • $108 million to construct bridges and approaches on the Bruce Highway (Haughton River Floodplain) south of Giru between Horseshoe Lagoon and Palm Creek.
  • $68.2 million for the Cairns Southern Access Corridor Stage 3 (Edmonton to Gordonvale) and Stage 4 (Kate Street to Aumuller Street) projects.
  • $60 million to construct Mackay Ring Road (Stage 1).
  • $29.1 million for the Rockhampton Northern Access widening from two to four lanes.

The improvement in market sentiment and activity seen in some other states has not been apparent at this stage in South East Queensland. Land sales have fallen to around 700 lots per month, from a high of over 1,000 lots/month in 2018. The base demand is estimated by Research4 to be in the order of 850 lots/month. SEQ has traditionally benefitted from sharp price growth in both Melbourne and Sydney. The downturn in these property markets is likely to have contributed to a slowing of interstate migration paths in the short term. Employment growth during May was 7,800. Seasonally adjusted unemployment grew by 0.3% to 6.2%. (Source: ABS; Research4)