Investor housing finance commitments in Queensland have hit a seven-year high, according to ABS data released today.
Treasurer Curtis Pitt said the ABS figures show lending commitments at their highest level in Queensland since the December quarter 2007.
“Housing finance in Queensland for the purchase of existing dwellings hit $4.2 billion in the April quarter 2015,” he said.
“Investor finance commitments for the construction of new dwellings remained at $625 million during the same period.
“This is an encouraging result which shows that investors have confidence in Queensland positive economic agenda.
“It shows that Queensland is open for business and investors are voting with their feet to grab a piece of Queensland real estate.
“It’s also good news for employment, with construction activity supporting jobs in the building industry.”
Mr Pitt said the Palaszczuk Government would continue to work with the property sector to promote Queensland as an attractive place to invest.
“Looking ahead, low interest rates are expected to support investor activity in Queensland housing, as investors chase higher yielding investments,” he said.
“With Brisbane’s rental yields more attractive than other major capitals, further investor interest may switch towards Queensland.
“This is particularly the case with units, townhouses and apartments, which offer investors the prospect of attractive returns in Queensland.”
Source: News Release, Queensland Government, 12 June, 2015