The 2024-25 Queensland Budget was handed down by Treasurer Cameron Dick earlier this week with a strong cost-of-living focus and key capital investment spanning projects in health, transport, the clean energy transformation, education and social and affordable housing. A total investment of $27.1 billion in capital projects, set to directly support approximately 72,000 jobs, represents record investments in key regions and sectors, with the aim to provide vital services for a growing state.

Our summary below focuses on funding announcements that will catalyse new capital works projects, providing built environment businesses with impactful insights to inform your business development strategy. As captured in our summary below, we have done the groundwork to extract the key budget announcements that directly impact the built environment industry, providing helpful insights to inform your business strategy.

Housing

The “Homes for Queenslanders” plan will see a record $2.8 billion investment in housing, with a target of delivering one million new homes by 2046, including 53,500 new social homes. The government acknowledges that 95% of the state’s housing supply is being delivered by the private sector, and that this aspirational target can only be achieved via collaboration among government, the private sector and the community sector.

A key initiative set to contribute to the social housing target is the Southport Supportive Accommodation project which will comprise approximately 200 high-rise social and affordable dwellings for people in need, and will incorporate integrated, dedicated facilities to accommodate on site support services. Other social housing projects supported in the budget include 8 new youth foyers, 10 new or replaced domestic and family violence shelters, 1,200 social homes for First Nations families, and more supported accommodation places across the state for people experiencing homelessness.

Additional housing investments include:

• a $350 million fund to incentivise infill development to support the delivery of new housing in the right locations;

• $162.9 million for fit-for-purpose government employee housing in remote and regional communities; 

• the initiation of a new state-facilitated development team to streamline decisions and quickly resolve planning and infrastructure issues delaying new homes, including social and affordable homes; and

• $12.5 million of targeted, needs-based funding for local governments to facilitate strategic planning and updating of their planning schemes.

Education

The 2024–25 Budget is investing over $1 billion to support the delivery of a high-performing state education system. Through the Building Future Schools Program, an investment of $1.274 billion in 2024–25 will ensure that facilities in Queensland’s state schools better support contemporary learning requirements. This investment is set to fund the following key projects:

• $342.2 million for the provision of additional facilities at existing state schools experiencing faster enrolment growth;

• $273.2 million to replace and enhance facilities at existing schools which includes $144.8 million for critical infrastructure upgrades;

• $166.6 million for the Building Future Schools program;

• $144.2 million as part of the strategic land acquisition fund, to acquire land for future new and expanded schools; and

• $117 million as part of the School Halls Program to boost education infrastructure investment across Queensland.

Health

The 2024–25 Queensland Budget is delivering a record investment in the health system with growth of 10.6 per cent in operating funding in 2024–25, well above the historical average of 6.9 per cent. This investment includes a total of $2.167 billion for health infrastructure in 2024–25, with a focus on increasing bed capacity statewide. Queensland Health is committed to delivering an additional 3,378 beds by 2031–32, which includes 230+ beds scheduled to come online in 2024–25.

The budget includes a hefty $1.152 billion investment in the Capacity Expansion Program, which aims to help future-proof Queensland’s health system, support patient flow services, and deliver around 2,200 additional beds. The program includes new hospitals at Bundaberg, Toowoomba, and Coomera, the new Queensland Cancer Centre, as well as major hospital expansions at 11 sites across Queensland, including Brisbane, Cairns, Fraser Coast, Gold Coast, Ipswich, Logan, Mackay, Moreton Bay, Robina, Toowoomba, and Townsville.

This budget will also invest:

• $8 million in 2024–25 and a further $192 million over the next 7 years to completely redevelop and deliver a contemporary Cooktown Multi-Purpose Health Service facility;

• $28.8 million for Alcohol and Other Drug Community Treatment Facilities in Cairns, Ipswich and Bundaberg;

• $60 million over 2 years for the Cairns Health and Innovation Centre ;

• $12 million in 2024–25 to replace existing staff accommodation in the Torres and Cape Hospital and Health Service; 

• $13 million for the redevelopment of the Gold Coast Operations Centre (Coomera) and for investigations required for the replacement of Southport Ambulance Station and Pimpama Ambulance Station; and

• $14.3 million for the relocation of the Springwood Ambulance Station and Sandgate Ambulance Station and planning works for the replacement of Beenleigh Ambulance Station.

Additional funding will also be invested towards existing major health projects across the state, spanning car parking, mental health, and key hospital expansions and redevelopments.

First Nations

Key capital investments supporting Aboriginal and Torres Strait Islander communities across the state include:

• $8.178 million over 2 years for the construction of the Coen Art Centre

• $20 million for family and early years school-based hubs in Aurukun and Kowanyama

• $5.8 million for more safe, stable and secure housing for First Nations families 

In addition, the $3.1 billion Homes for Queenslanders program includes a target of 1,200 social homes in remote communities, in partnership with Aboriginal and Torres Strait Councils.

Renewable Energy

The Queensland Energy and Jobs Plan (QEJP) was released in 2022, and represents a commitment to transform the state’s energy sector, providing an infrastructure investment pathway to achieve 70% renewable energy by 2032 and 80% by 2035. This plan includes a vision to convert publicly owned power station sites into clean

energy hubs by 2035. The 2024-25 budget commits a capital investment of $26 billion over 4 years to deliver the QEJP, with new publicly-owned investments including:

• $16.5 billion for renewable energy and storage projects

• $8.5 billion for transmission infrastructure

• $500 million for distribution network storage

• $192 million for the development of Transmission and Training Hubs in Townsville and Gladstone

Regional Investment

The ongoing Works for Queensland program provides funding to local governments outside South East Queensland for local job-creating maintenance and minor infrastructure projects. In the 2024–25 budget, a $124.5 million investment will support Works for Queensland projects. 

In acknowledgement of the significant number of natural disasters that have impacted Queensland’s regions in recent years, the budget demonstrates the Queensland Government’s investment in supporting community recovery as well as reducing impacts of future events. An investment of $38.2 million in 2024−25 will be administered by the Queensland Reconstruction Authority (QRA) for the delivery of high priority disaster resilience and mitigation infrastructure projects. This is part of a $95.4 million investment over 3 years, jointly funded by the Queensland and Australian Governments. 

With a focus on delivering a safe and secure water supply across regional Queensland, the budget will invest $46.9 million over three years for a new water treatment plant for Ayr, and $87.5 million over three years for the Cairns Water Security Project, as well as continuing to deliver on more than $1 billion of existing funding commitments delivering water security to Queenslanders.

Infrastructure

Transport infrastructure is a key component of Queensland’s Big Build program, delivering a strong transport network to connect and support communities and industries across the state. Key transport projects supported by the 2024–25 Budget include:

• $5.5 billion (split 50:50 with the Australian Government) for the construction of a new 37.8 kilometre Direct Sunshine Coast Rail Line between Beerwah and Maroochydore, with construction expected to commence in 2026;

• $3.026 billion (jointly funded with the Australian Government) for the construction of the Coomera Connector (Stage 1) highway from Coomera to Nerang, which is expected to progressively open to traffic in late 2025;

• Ongoing investment in the Bruce Highway Upgrade Program, including $1.730 billion to construct the Rockhampton Ring Road, $1.162 billion to construct Cooroy to Curra (Section D), $948 million for the upgrade between the Gateway Motorway and Dohles Rocks Road (Stage 1), and $336 million towards a bypass of Tiaro;

• Jointly funding (with the Australian Government and Gold Coast City Council) the Construction of Stage 3 of the Gold Coast Light Rail, from Broadbeach South to Burleigh Heads, at a total estimated cost of $1.219 billion; and 

• $5.75 billion (split 50:50 with the Australian Government) for the Logan and Gold Coast Faster Rail (Kuraby to Beenleigh) upgrade.

Beyond transport, the budget commits the following key investment in 2024–25: 

• Major seaport projects including finalisation of the $251.2 million Port of Townsville Channel Capacity Upgrade, the $360 million expansion of the Cairns Marine Precinct, and the $116 million Northern Land Expansion at Gladstone Port

• Major water infrastructure projects including $311.1 million for the Fitzroy to Gladstone Pipeline, $26.1 million for the Mount Crosby Flood Resilience Program, $56 million to deliver the Toowoomba to Warwick Pipeline, and $303.4 million towards the dam improvement programs of Sunwater, Seqwater and the Gladstone Area Water Board.

Brisbane 2032 Olympic and Paralympic Games

The 2024–25 Queensland Budget provides for total capital expenditure for Brisbane 2032 venues infrastructure of $7.1 billion over 9 years to 2032–33, to be jointly funded with the Australian Government. Projects  currently confirmed include:

• $2.5 billion for Brisbane Arena

• $2.7 billion for upgrades to the Queensland State Athletics Centre and refurbishment of the Gabba Stadium and Suncorp Stadium 

• $1.9 billion for 15 new or upgraded venues under the Minor Venues Program 

• $560 million minor venues works now in procurement – Chandler Indoor Sports Centre, Brisbane Aquatic Centre, Sunshine Coast Indoor Sport Centre, Sunshine Coast Mountain Bike Centre, and Sunshine Coast Stadium

Sources:  ABC News Queensland budget 2024: Winners and losers, Queensland Budget 2024-25: Budget Overview, Queensland Budget 2024-25: Budget Capital Statement, Homes for Queenslanders: $2.8 billion for plan, new supported housing, Regional Queensland a big winner in Miles Government State Budget