Confidence returning to housing market

ABS data released this week shows confidence is returning to the Queensland housing market, Queensland Government treasurer Tim Nicholls says.

Mr Nicholls said seasonally adjusted housing finance approvals rose 0.6 per cent in September.

The total number of trend finance approvals for owner occupied dwellings rose 0.2% to be 6.4% higher over the year.

"The September result was the second consecutive monthly increase," Mr Nicholls said.

"Interest rate cuts have helped mitigate the impact of global economic uncertainty on consumer confidence.

"The Newman Government's policies, funded in our first state Budget, have also improved housing affordability.

"We reinstated the principle place of residence transfer duty concession that the previous Labor Government scrapped, wiping up to $7000 off the cost of buying the family home, and made carefully targeted changes to the first home owner grant.

"The $15,000 grant for first-time buyers of new homes is helping stimulate the construction industry, while making it easier for people to buy a home."

Mr Nicholls said ABS building approvals data showed total dwelling approvals in Queensland increased 2.6% in September, in seasonally adjusted terms.

In trend terms, dwelling approvals were 11.2% higher over the year.

Topics:  home buyers home loans interest rates market tim nicholls

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Sharing cultures through food

DIG IN: Lockyer Valley Community Centre volunteers at the Harmony Day food tasting

Community centre hosts Harmony Day event

Gordon reflects on farming life in the Lockyer

LOOKING BACK: Laidley's Gordon Niebling says he has loved his farming life and living in the Lockyer Valley.

The self-proclaimed 'Jack of all trades”, Gordon Niebling.

Clare Atkinson Journalism Scholarship needs your support

IN HONOUR: Brightview's Lesley Atkinson is urging the public to help continue the Clare Atkinson Memorial Scholarship.

Help continue Clare Atkinson's legacy and the future of journalism.

Local Partners