Queenslanders more confident about property investment
Confidence is returning to Queensland's residential property sector - sentiment that may lead to a housing recovery in 2013.
State treasurer Tim Nicholls said the Property Council of Australia-ANZ Property Industry Confidence March quarter survey showed the real estate industry could be headed for an upturn, with Queensland's confidence index increasing eight points to 103.3.
"This was the second biggest increase, behind only Western Australia, and charts the way forward for a positive 2013," Mr Nicholls explained.
"The growth in confidence for house prices was particularly pleasing, as it marks the second consecutive quarterly surge and the highest level of optimism since the survey began."
The treasurer went on to add that the state government is committed to reinvigorating activity in the property industry, having already introduced the $15,000 First Home Owners Construction Grant and reintroducing the Principal Place of Residence Concession.
And conditions are set to improve across the nation amid speculation of future interest rate cuts, increased house prices and a surge in residential building activity.
Rentals prices are expected to lift, which combined with low vacancy rates in most capital cities will shift the relative cost of renting versus buying - further stimulating investment in property nationwide.