1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

Townsville welcomes cash rate hold

August 08, 2012

Residential property investors in the far north Queensland are likely to welcome the Reserve Bank's decision to hold the official cash rate at 3.5 per cent, with the stabilising market driving the state's housing recovery forward.

The Housing Industry Association (HIA) released figures yesterday (August 7), coinciding with the central bank's interest rate decision, revealing a housing market recovery emerging in Queensland.

In the 2011 January to June period, only 488 houses were approved for construction in Townsville, with that number almost doubling to 719 in the same period this year.

HIA said the resurgence in the Townsville property market would be further enhanced by the RBA's latest move.

"The number of single dwelling construction approvals in Townsville has been slowly recovering over the first six months of this year after years in the doldrums," HIA said in a statement.

"Today's decision will help drive the recovery."

According to the housing body, Townsville builders were reporting a renewed interest in the sector - with a growing number of inquiries for new home building from first time buyers and investors.

HIA cited the housing market recovery on fresh confidence in the sector attributed to economic opportunities in Queensland  - including mining, agriculture, tourism and infrastructure development.

Related Articles

Queensland units sales increase while home loans become more affordable

First home buyers and property investors looking into buying a property in Queensland could be ...
read more

Queensland first time buyers react to homeownership scheme

More and more Queenslanders are realising the 'great Australian dream' to buy their own ...
read more

Queenslanders saving more cash from government policies

The Queensland government is easing the financial burden on residential property dwellers in the ...
read more

Latest Articles

Increased construction figures across New South Wales highlight investment strength

Buyers looking for a great area to consider land investment and property construction in the near ...
read more

Regional Victorian home values increase significantly during last 12 months

Regional Victoria has seen house prices rise again during the last quarter, with new data ...
read more

RP Data: Quarterly rental data highlight slowing capital market

Owners of investment property could be interest to see the latest statistics from RP Data, with the ...
read more