THE Property Council of Australia has called for infrastructure and planning reform and cuts to taxes, fees and charges in order to rebuild Queensland's property sector.
The measures are among five reforms outlined by the Property Council of Australia in its 2011 Advocacy Agenda launched last week.
Queensland Executive Director of the Property Council Ms Kathy Mac Dermott said it was important to recognise that the property industry is the largest private sector contributor to Queensland's economy.
According to the Council, the property industry is the State's largest employer and the single largest source of Queensland's taxation revenue.
"The property industry is Queensland's engine room but the engine is stalling," Ms Mac Dermott said.
"To rebuild Queensland, we must restore Queensland's property sector… It needs immediate and urgent reform."
Ms Mac Dermott said that housing affordability and investment in Queensland has suffered with approvals decreasing, migration dropping and job losses occurring within the property industry.
The Property Council's 5 reform targets are:
- Cut taxes, fees and charges;
- Invest in infrastructure;
- Planning for growth;
- Speed up and depoliticise development assessment; and
"Our leaders have become fixated on reducing debt and band-aid planning solutions, using the property industry as a 'cash cow' to prop up the rest of the economy," Ms Mac Dermott said.
"We need the strong leadership demonstrated by government during the natural disasters of early 2011 to continue and be applied to reigniting Queensland's economy."