Queensland housing investor finance commitments have hit a near eight-year high, according to new data from the ABS.
Acting Treasurer Kate Jones said today’s ABS Lending Finance data underlined the strength of Queensland’s housing sector.
“These figures show that housing is one of the real bright spots in the Queensland economy,” Ms Jones said.
“They also show that investors see Queensland as a great place to invest, and they’re willing to put their money where their mouth is.”
Ms Jones said according to the ABS data, investor housing finance in Queensland for the purchase of existing dwellings hit $4.8 billion in July quarter 2015.
“That’s the highest level in almost eight years, and not seen since the August quarter 2007,” she said.
“Investor finance commitments for the construction of new dwellings also increased, to $745 million in the July quarter 2015.
“They’re now $450 million higher than the same period last year, which is great news for Queensland’s housing construction sector.
“This is a sector which supports thousands of jobs, while generating important economic activity throughout the State.”
Today’s lending finance data follows the release yesterday of the latest ABS Labour Force statistics for August, which show continued jobs growth in Queensland.
The Labour Force data shows that an extra 28,500 jobs have been created in Queensland since the election of the Palaszczuk Government.
Also this week, the NAB Monthly Business Survey for August revealed Queensland business confidence was the highest of all the mainland States for the second month in a row.
Source: News Release, Queensland Government, 11 September, 2015,