New figures show Queensland is leading the way in house sales, in a positive sign for the State’s economy. 

Treasurer Tim Nicholls said Housing Industry Association figures released yesterday showed new home sales in Queensland in July were up 12.6 per cent, despite a fall of 4.7 per cent nationally.

“This is a very positive sign for the Queensland economy,” Mr Nicholls said.
“There have been significant falls in other states, including the boom state of Western Australia, but sales in Queensland are on the up. The figures for July represent a show of confidence in the Queensland economy from home buyers.

“They also confirm the recovery in the housing market forecast in our 2013-14 State Budget.”

Mr Nicholls said today’s figures came on top of ABS data showing both investors and owner-occupiers were returning to the Queensland market.
“Finance commitments for purchasing existing dwellings for rent or resale increased by nearly 10 per cent in the June quarter compared to the same period a year ago,” he said.

“The ABS figures also show a healthy increase in finance commitments for owner-occupiers, up 13.7 per cent for the June quarter.”

Mr Nicholls said record low interest rates and the Newman Government’s $15,000 Great Start Grant for first home buyers purchasing a new home meant there had never been a better time to buy property in Queensland.