Economic growth in Queensland highlights investment opportunities

By the resi financial blog team, 22 January 2014

Queensland investment opportunities

The latest CommSec report has highlighted the increasing viability of Queensland as an investment destination, which could be of interest to anyone interested in taking out a home loan as an investor and expanding their property portfolio into the Sunshine State.

The State of the States report placed Queensland as one of the fastest developing economies in Australia, with a wide range of opportunities and growth developments occurring across the region.

Premier Campbell Newman said the state economy was 4.2 per cent stronger than 12 months earlier, praising a number of initiatives and a budget forecast of further growth heading into the future.

"Queensland is leading the way in business investment, with spending in the September quarter almost 27 per cent above decade-average levels," said Mr Newman in a January 20 statement.

"Meanwhile, improvements in the housing sector and increased retail and tourism spending mean more jobs are being created across the state."

Furthermore, the Australian Bureau of Statistics (ABS) recently reported that three quarters of all jobs created across the nation during the 12 months to December were generated in Queensland - a fantastic result for the region.

Acting Treasurer John McVeigh said business investment in the state was also increasing. This was encouraged by huge LNG projects beginning in the region, with $60 million invested over the year to the September quarter.

"We've cut red tape, streamlined approval processes and made it easier for business to interact with government," said Mr McVeigh in a January 20 statement.

"The CommSec report has found retail spending in Queensland is up 14.7 per cent on decade average levels as both consumers and businesses continue to show sustained optimism, while tourism is also improving."

These results could indicate a great chance for property investment in the state, with an increasing population spurring on the need for more accommodation in both regional areas and the state's capital city.

Categories: Home Loans, Property Investment