Investment opportunities in Queensland following consumer confidence boost

By the resi financial blog team, 29 October 2013

Queensland property investment

Queensland could be home to a number of investment opportunities, as housing approvals are beginning to increase across the state as a population boom looms in the near future.

A recent Housing Industry Association (HIA) release has indicated a housing recovery across most of the state, with HIA Executive Director Warwick Temby highlighting an approval increase of 5 per cent during the three months to August compared with the same period last year.

"This is a good sign that there is a recovery in home building gaining hold after several years of
severely depressed conditions," said Mr Temby in an October 2 statement.

"In the largest market of Greater Brisbane approvals are up a solid 16 per centon the same time on 2012. Interestingly it is the multi-unit segment of the industry that is delivering the growth."

Statewide, the approval rate for multi-unit dwellings has increased by 36 per cent over last year, which could indicate a fantastic opportunity for smart property investment.

Furthermore, the latest Westpac Melbourne Institute Consumer Sentiment Index has shown that Queensland's economy, as a whole, is beginning to strengthen. As a potential investment region, the state could be perfect for the expansion of your property portfolio.

Queensland's consumer sentiment index increased by 3.9 per cent to reach a score of 110.7 - as opposed to the national decrease in sentiment of 2.1 per cent.

Treasurer Tim Nicholls said these results are encouraging for the state, illustrating the potential for buyers and businesses to invest and proper.

"In recent months we’ve seen retail sales and housing finance approvals growing at faster than the national average," said Mr Nicholls in an October 9 statement.

With the Queensland economy currently sitting at such a great level, purchasing investment property could be a lucrative pursuit for anyone interested in an area undergoing positive growth and population increases.

Categories: Home Loans, Property Investment