Record Infrastructure Spend

One of the biggest factors influencing property markets is infrastructure spending and new data shows how much is being pumped into mega projects throughout Australia.

There is $415 billion worth of definite projects in the pipeline and a further $160 billion in planning.

According to the Deloitte Access Economics report, Australia is working through a record pipeline of public infrastructure projects with 13 taxpayer-funded projects valued at $10 billion or more, the costs of which have already blown out by $130 million.

The biggest projects under construction include the Inland Rail, a freight route between Melbourne and Brisbane ($31.4 billion), CopperString 2032 – a transmission line connecting Mount Isa to the national energy grid ($14 billion) and Brisbane’s Cross River Rail project ($19.04 billion).

Deloitte Access Economics Director Sheraan Underwood says big projects often have substantial cost overruns and the scale of these projects is such that even small percentage changes can result in large dollar impacts.