Regional Queensland a property hotspot
Deciding where to purchase residential property is one of the most important considerations for prospective home owners, with real estate in high-growth areas likely to have better re-sale value.
Regional Queensland has been identified as a lucrative property investment area, with recent figures showing more people are buying residential land in resource-rich locations.
Housing Industry Association (HIA) executive director Warwick Temby said people were taking advantage of low interest rates and first time buyer grants to snap up real estate in Queensland's mining towns.
"There is a very clear connection between those parts of Queensland where home building activity is on the rise and their proximity to resource development," Mr Temby explained.
"Central Queensland and the Toowoomba regions have experienced double digit growth in home building over the last 12 months. This is overwhelmingly positive news for an industry that has struggled to climb out of a GFC-induced recession."
The latest figures show that Queensland's thriving industry is a property drawcard, with high-growth mining regions experiencing a surge in demand in real estate.
Mr Temby said favourable economic conditions and generous first time buyer grants are impacting on the property market, with the HIA forecasting a lift in home building across the state next year.