SA - Focus on regional areas, better transport
If you're a homeowner with a mortgage in South Australia, the recently released 2014-15 state budget may be of interest.
A raft of initiatives were announced, along with the retention of some schemes and the removal of others.
When it comes to focusing on regional development, job creation and better transport, it seems that SA is gearing up for good things, which could have a positive flow-on effect to dwelling prices. Using a mortgage calculator to establish borrowing capacity could be a good move for SA residents.
Driving ahead with transport initiatives
Treasurer Tom Koutsantonis confirmed that the government will continue to invest in road infrastructure and public transport projects across the state in a June 19 statement.
It's expected that this will create jobs as well as boost productivity.
The O-Bahn guided busway will be extended over a three-year period at a cost of $160 million.
"In addition to reducing congestion, this project will support 50 jobs during its first year, and about 200 jobs per year for the following two years of the project," Mr Koutsantonis explained.
The Gawler rail line will receive a $152.5 million funding injection over 2017-18, too.
Upgrades to Adelaide's North-South corridor are expected to decrease travel times for commuters, making the capital a great place to live, as well as improving the state's economy.
Commenting on the corridor upgrades as well as the Darlington upgrade and Torrens to Torrens project, Transport Minister Stephen Mullighan explained that these projects will deliver more than improved traffic flows.
"Combined, they will inject $1.5 billion into the South Australian economy and secure around 850 local jobs a year during construction," Mr Mullighan explained.
It's not just Adelaide that's set for good things, however.
Focus on regional areas
The state's Regional Development Fund is getting a boost, skyrocketing from $1.6 million annually to $15 million per year.
"This is a significantly increased investment in our regions to drive economic growth, build new infrastructure and create job opportunities across the state," Mr Koutsantonis noted in a separate June 19 release.
"This is about giving communities a competitive edge to identify local opportunities and to help build on their strengths."
Image credit: StephenMitchell