Recent numbers inspire investment confidence in Queensland
The favourable investment conditions economists have been discussing for the sunshine state may have been confirmed with a recent announcement from the Real Estate Institute of Queensland.
The REIQ examined housing finance figures and reported a 16 per cent increase in the number of investors purchasing property in the state over the month of November.
After a rather sluggish 2011, it is possible that the combination of high demand, low interest rates, and attractive property prices led to the increase.
In addition to an extension of the state-funded Building Boost Grants, there has been solid investment in the private sector. QantasLink recently publisized its regional airline expansion throughout the state and Scoot, Singapore Airlines budget carrier, announced a new hub in the Gold Coast.
For those considering residential property investment in Queensland, now may be the right time to start looking.
In January, a report from the Deloitte Access Economics’ Business Outlook predicted Queensland would boast the highest growth in Australia for 2011-12 and 2012-13.
REIQ chief executive officer Anton Kardash hopes the positive numbers to continue: "These tentative signs of recovery, however, can only be sustained if confidence levels continue to improve."