Property experts agree that to rebuild the damage caused by the Queensland floods, investor confidence must be restored and communities be made more resilient.

Property Council of Australia Queensland Executive Director Kathy Mac Dermott said that governments at all levels are appropriately still intensely focused on the immediate clean-up after the disaster. However, she said, in the coming days and weeks they will need to ensure that they place Queensland on the right footing for a speedy economic recovery. The property industry is critical in achieving this.

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“In the short-term we need to focus on getting people back into their homes and businesses as quickly as possible to send a clear message that Queensland is open for business. Local, state and federal governments clearly have a strong role to play in achieving this," Mac Dermott said

“Governments have already made grants and subsidies available to flood victims. This is a fantastic start, but may need to be extended to get Queensland back up and running at full steam as quickly as possible. Options like a home rebuilding grant, similar to the first home buyers grant, for homes that need to be demolished and rebuilt is one possible option."

Mac Dermott suggests that the government offer similar tax incentives that were put in place to encourage businesses to purchase durable assets during the GFC could be used to help Queensland businesses get back on their feet. This could also be extended to home owners for the purchase of durable goods.

“We need to rebuild communities and invest in the engineering solutions that will assist mitigate future disasters whilst at the same time building the other critical economic and social infrastructure needed across the state, " Mac Dermott said. “We urgently call on local, state and federal governments not to postpone current infrastructure projects – which are already critically needed. These programs need to run concurrent with the floods recovery process if we are to kick start the economy and restore investor confidence in Queensland."

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