Broadband promise to hurt property market

Broadband promise to hurt property market

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The federal government’s plan to roll out national broadband internet may adversely impact the property industry, First National chief executive officer Ray Ellis has claimed.

According to Mr Ellis, the government’s plan to install broadband in new buildings is too vague to be a viable option, thereby hindering developers’ ability to complete building projects.

“Minister Conroy has failed to establish the business case for national broadband (NBN) and if the government continues to procrastinate, builders will continue to face uncertainty about how to complete their projects,” Mr Ellis said.

According to Mr Ellis, the broadband scheme will cost the average regional homeowner between $4,000 to $5,000, based on predictions by the Residential Development Council.

“This defies the whole purpose of the NBN scheme, which looks more and more like being a gigantic, overpriced white elephant, and likely to be as successful as the failed home insulation scheme,” he said.

Mr Ellis said any broadband rollout legislation will need to clarify planning controls to reduce confusion on building sites.

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