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Confidence Improves in QLD Property

By Amanda Shannon

Queensland is currently experiencing high levels of confidence in its property market, a new survey has discovered.

The latest Property Council of Australia-ANZ Property Industry Confidence quarterly survey shows there has been a 17-point rise in sentiment among industry professionals throughout the state.

Treasurer and minister for trade Tim Nicholls believes that this demonstrates economic strength, which may encourage people to consider buying residential property in the Gold Coast.

"Importantly, the results for this quarter come after an eight-point rise in sentiment last quarter, meaning Queensland is trending in the right direction," he commented, adding that positive trends were seen in just about every measure.

Mr Nicholls stressed that there are various reasons to consider buying property in Queensland at the moment, including the Principal Place of Residence Concession that is estimated to save families up to $7,000 when buying a home.

Not only this, but the $15,000 Great Start Grant has been introduced in order to stimulate activity in the state's construction industry.

This follows data from the HIA-Commonwealth Bank Housing Affordability Index, which showed that property prices are becoming more affordable throughout the state.

Affordability experienced a 13 per cent rise between the December quarter of 2011 and the same period in 2012.

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