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Real estate ‘attributed to growth in economy’

By David Bell

Those thinking about investing in real estate in Rockhampton may be interested to know that the Queensland economy is improving.

The recent data regarding the state of the economy has been linked to policies that are fostering confidence in the real estate sector.

State treasurer Tim Nicholls has lauded the results, which show that economic growth in the September 2012 quarter was over 18 per cent higher than the same time a decade ago.

Increases in population have been attributed to the positive result outlined in the CommSec's State of the States Report, which Mr Nicholls said has filtered through to the housing sector.

He commented: "Housing finance totalled $1.12 billion in November. That’s 13 per cent higher than the monthly average up to October last year.

"Construction work was 52 per cent above the decade average and we had the second highest equipment investment in the nation."

The treasurer added that another positive can be drawn from a recent Property Council of Australia survey, which found confidence in Queensland is the second highest in the country.

Mr Nicholls concluded by saying government policies are also influencing the figures, with the $15,000 grant for first home buyers purchasing a new home, assisting in the construction and real estate sectors.

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