Queensland economy highlights great investment opportunities
Purchasing investment property in Queensland could be a lucrative option for the future, with the recent Commonwealth Securities State of the States report highlighting a number of growth areas that could benefit smart purchasers.
According to the report, Queensland is leading the nation for business investment, with spending in the area across the June quarter reaching 37 per cent higher than the decade average.
Treasurer Tim Nicholls said that the rate of population growth within the state was above the national average, which was great news as it "bolsters the labour force and creates greater demand across all sectors, especially retail and housing".
He went on to detail more economic increases across the state, illustrating that economic growth was 19.3 per cent higher than the decade average. Furthermore, both retail spending and construction activity were higher than 10 years ago, increasing by 15.3 and 45 per cent respectively.
Mr Nicholls also pointed out that, according to the latest Deloitte Business Outlook report, Queensland continues to outperform the national economy.
"Preliminary results from the State Accounts show Queensland's economy growing by four per cent in 2012-13, compared to an average of 2.6 per cent across the other states," said Mr Nicholls.
"By 2014-15 Queensland will have the fastest growing economy of any Australian state. With these positive signs emerging there's never been a better time for businesses to invest, employ and grow in Queensland."
This could be great news for anyone considering buying a home in Queensland, especially with the opportunity for lucrative mining work increasing.
In a statement released October 22, Natural Resources and Mines Assistant Minister Lisa France said the Newman government was aiming to make mining simpler and more profitable in the future.
"It is critical for the state's economy that explorers continue to see the benefits of investing in Queensland. As a government, we are determined to find ways we can continue to cut unnecessary green and red tape," said Ms France.
Coupled with the strength of the economy highlighted in the recent reports released by Deloitte and Commonwealth Securities, this paints a vivid picture of potential investment for the Sunshine State.
Anyone looking for a great place to purchase investment property could do well to investigate the options available in Queensland today.