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Confidence in QLD real estate grows

By Amanda Shannon

Those thinking of purchasing or building residential property on the Gold Coast may be interested to know that confidence in Queensland’s property sector is sky high.

The latest data from the Property Council of Australia-ANZ Property Industry Confidence March quarter survey found that the Sunshine State recorded an eight point rise in the index – bested only by Western Australia.

State treasurer Tim Nicholls said this confidence in the property and construction sector shows that the Newman government’s initiatives are working.

He commented: “It means that Queensland is now one of only three states to be in positive territory on the confidence index, and is a further sign of a potential recovery.

“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.”

Mr Nicholls continued by saying that some initiatives involved in bolstering the property sector involved the reintroduction of the Principal Place of Residence Concession, which saves families $7,000 when they purchase a home.

Additionally, the budget for 2012-13 has seen the First Home Owners Construction Grant – which provides $15,000 for first home buyers who purchase a new property.

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