Home Real Estate Property Industry welcomes $11 billion (£8.55 billion) infrastructure announcement

Property Industry welcomes $11 billion (£8.55 billion) infrastructure announcement

by Jonathan Adams

Property Industry welcomes $11 billion (£8.55 billion) infrastructure announcement

Property Council New Zealand welcomes the Government’s announcement of $11 billion (£8.55 billion) of new funding for infrastructure across New Zealand over the next four years.

The funding announcement, ahead of Budget Day, signals a clear commitment by Government to continue its support for New Zealand’s economic growth and development.

Property Council Chief Executive Connal Townsend, says a lot of the country’s infrastructure is at the end of its useful life and expects that asset replacement would feature prominently in the Budget.

“There is a clear expectation that at the time of asset replacement, capacity will be increased to service projected growth.

“Government’s announcement is a recognition that houses and commercial properties do not exist in isolation but need to be supported by infrastructure such as roads, schools and hospitals.”

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