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Treasurer Cameron Dick has confirmed the ‘shelving’ of the government’s land tax in an apparent overnight spiking of the controversial policy by his Premier.
Business
A flood of new office space has blown out Brisbane’s vacancy levels as the property sector banks on a return to the city next week when the Government’s “stay at home” recommendation comes to an end.
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The Brisbane office market has consolidated with vacancies decreasing slightly in the first six months of the year, according to the Property Council of Australia’s latest Office Market Report.
The property industry has jumped aboard the bull market sentiment with confidence about Queensland’s economic prospects at a record level, but problems linked to the growth are emerging.
Brisbane’s CBD office occupancy has flatlined around the 70 per cent level for most of 2021, proving the difficulty in getting people back to work.
The Property Council has warned that an apartment supply crunch was looming among the major capital cities with a potential loss of more than 6200 jobs in Brisbane and more than $500 million in economic value.
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