New home building booms in Queensland
Confidence appears to be returning to Queensland's residential property sector, with recent data showing dwelling approvals are steadily increasing in parts of the state.
According to the latest Australian Bureau of Statistics building approval figures, the number of dwellings given the go ahead in the last two months of 2012 increased by 7.9 per cent - suggesting more Queenslanders are taking advantage of first time buyer incentives.
Those who buy or build a new home in Queensland may be eligible for the state government's First Home Owner Construction Grant, which offers buyers $15,000 for properties valued up to $750,000.
Paul Bidwell, director of housing policy at Master Builders, said the latest approval figures are a positive result for the Sunshine State.
"It seems that home buyers and investors are gradually becoming more confident, which we believe is the critical prerequisite for any sustained recovery in building activity," Mr Bidwell explained.
"Despite the flood devastation being experienced in Wide Bay and other parts of the state, we are not predicting a significant impact on housing activity. Queensland is a resilient state and we're anticipating the housing recovery will continue despite the current hardships."
The Mackay and Whitsunday regions recorded the biggest increase in approvals, with a 93.6 per cent lift over the two months.