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Investment in QLD real estate soars

By David Bell

Those who are looking to invest in real estate in Rockhampton may be interested to know that data released yesterday (January 16) found that the amount of money invested in Queensland real estate in November topped $1.12 billion.

Australian Bureau of Statistics information revealed that the combined total committed to the investment of properties for rent or resale was up 13 per cent on the monthly average up until October 2012 – representing an extra $200 million.

Queensland treasurer Tim Nicholls welcomed the announcement, saying that the figure showed the policies of the Newman government were working.

He commented: "In further pleasing news, the original value of finance approvals for the construction of dwellings for rent or resale totalled $85.6 million in November, compared with a monthly average of $69.2 million up to October 2012.

"Essentially, the figures today show that investor activity in the housing market picked up in November, which is an encouraging sign."

The treasurer said that while the data doesn't definitely point to signs of a recovery, he believes it is proof that the measures taken by the state government are having an impact.

He cited the $15,000 First Home Owners Construction Grant as an example of a way in which property buyers were being helped.

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