When you're looking to build up your portfolio of rentals in Adelaide, an important element in your decisions is the features in the surrounding area – including infrastructure developments. Following the release of the federal government's 2015-2016 budget, the leader of the opposition party has hinted that higher spending on infrastructure could be on the cards in the future, which is fantastic news for investors around the country, including those in the South Australian capital.
In his response to the budget, Bill Shorten has outlined his plans to boost public spending on infrastructure. He noted that road and public transport projects, as well affordable housing and smarter energy grids, help to encourage investment, create jobs and spur more construction – all of which can encourage real estate in Adelaide to grow.
The Property Council of Australia welcomed Mr Shorten's comments. Chief Executive Ken Morrison noted that it is heartening to know that the government is putting emphasis on infrastructure developments.
"It is very encouraging to see the role of the Commonwealth Government recognised as fundamental if we are to manage growth in our cities and make them more liveable, more productive and more sustainable," Mr Morrison said in a 14 May release.
"Future economic growth and prosperity for all Australians can only be achieved if reform is pursued and policies put in place to unlock the full growth potential of the property industry."
Infrastructure developments in Adelaide have been flying high recently, with fantastic improvements being made to roads and facilities across the city. This includes the state government's plans to turn Adelaide's South Road into a major north-south road corridor, revitalisation of the rail network, as well as the riverbank renewal project – all of which will add vibrancy and dynamism to this great city.
If the opposition's words are anything to go by, there could be plenty more to look forward to – and investors will no doubt be waiting with open arms.