Property market gets $1.5bn boost

Homeowners and property investors are smiling after the government announced $1.5 billion of new, ready-to-go infrastructure spending.

The government has allocated $1 billion to 15 “priority projects which are shovel-ready” and $500 million to road safety works.

Traditionally, long-term infrastructure projects attract workers from other states, which often leads to an increase in demand for housing, and therefore property prices. So these projects could be of interest to any one looking to purchase or invest.

The infrastructure priority list includes:

• Inland rail from Melbourne to Brisbane
• Marinus Link between Tasmania and Victoria
• Olympic Dam extension in South Australia
• Emergency town water projects in New South Wales
• Road, rail and iron ore projects in Western Australia

The $1.5 billion package will support over 66,000 direct and indirect jobs, according to the Prime Minister.