$200 million for SEQ housing from state budget, Caboolture West update

A regional council area north of Brisbane, in the process of founding a new city, is set to benefit from the state budget’s pool of $200 million for housing as its projected population skyrockets.

A regional council area north of Brisbane, in the process of founding a new city, is set to benefit from the state budget’s pool of $200 million for housing as its projected population skyrockets.

Moreton Bay will share in the state budget’s allocated $200 million for essential infrastructure, including housing in SEQ, as it prepares for the Caboolture West satellite city.

The $9.5 billion Caboolture West satellite city was first proposed in 2012.

It will take 40 years for 70,000 new residents to move into the city, which is bounded by D’Aguilar Highway to the north Caboolture River Road to the south and west of Old North Road.

Caboolture West satellite city numbers.

The rural space west of Caboolture will be transformed into a bustling city with 12 schools, six retail hubs, a TAFE, private hospital, district sports field and a town centre.

Council also plans to include 10 football fields, four rugby league fields, nine touch football fields, six cricket pitches along with multiple rugby union, netball, hockey, Australian rules, softball, baseball, track and field and multipurpose fields across the Caboolture West precinct.

Currently, a private hospital is proposed along with other medical services such as GPs, clinics and allied health services for the new city.

With the State Government’s announcement to invest $200 million to build essential infrastructure to unlock housing supply, Caboolture West will take priority from a new growth acceleration fund.

Moreton Bay will share in the state budgets allocated $200 million for essential infrastructure, including housing in SEQ, as it prepares for the Caboolture West satellite city. Photo – contributed.

Steven Miles, Deputy Premier and Minister for Planning, outlined that funding in the 2022-23 State Budget would unlock more residential lots in new communities.

“People and businesses are moving to Queensland in droves to enjoy the economic, job and lifestyle opportunities on offer,” he said.

“This has increased demand for land supply, especially in South East Queensland.

“A new Growth Acceleration Fund has been created to support the delivery of priority trunk infrastructure needed to develop new communities like Caboolture West.”

An additional $50 million in equity funding has been approved for the fund to help develop more residential lots and increase dwelling supply, and $15 million of this has already been allocated to the delivery of water and sewer infrastructure in Caboolture West.

Moreton Bay will share in the state budgets allocated $200 million for essential infrastructure, including housing in SEQ, as it prepares for the Caboolture West satellite city. Photo – contributed.

“The new Growth Acceleration Fund will focus on growth areas in South East Queensland including the Sunshine Coast, Moreton Bay, Brisbane, Redland, and Gold Coast,” Mr Miles said.

“It will fund new roads, water and sewerage infrastructure and other public facilities.

“The Catalyst Infrastructure Fund (CIF) will also receive $150 million in equity funding for the major infrastructure needed to continue the delivery of new communities such as Ripley Valley and Greater Flagstone.

“The funding will be supplemented by contributions from property developers who will be required to make co-investments of at least 20 per cent towards the cost of the major infrastructure going into their development projects.”

Moreton Bay will share in the state budgets allocated $200 million for essential infrastructure, including housing in SEQ, as it prepares for the Caboolture West satellite city. Photo – contributed.

Almost 50,000 residential lots will be unlocked in South East Queensland since the 2020 State election, including approximately 30,000 in Caboolture West to cater for the region’s current and projected population surge.

This comes off the back of a Moreton Bay Regional Council spokesman recently confirming the area’s projected population boom.

Originally the region was expected to grow from being home to approximately 500,000 to 690,000 by 2041.

But now, it is more likely to reach upwards of 750,000 local residents in about 20 years’ time.

According to council documents, within 10 years, Moreton Bay will have more residents than the state of Tasmania. About 30 people will move to the region every day over the next 20 years.