Results from the recent ANZ/Property Council Survey^* are in, revealing growing confidence in Brisbane’s property sector and indicating that Queensland is up there with the best of them!

The survey shows that property confidence for Queensland has risen by two points since the last quarter, making the state now sit at 132 on the index. This positive result puts the state ahead of the national average and considerably above the neutral score of 100.

The other good news is that Queensland was only one of three states to see a bump in numbers this quarter, other states that crept up were the Australian Capital Territory and Northern Territory.

In a response to the survey, Queensland Property Council Executive Director, Chris Mountford, said the state government’s “key economic initiatives” will only help reinforce further confidence. Such initiatives include: new planning legislation, a new State Infrastructure Plan and a new south-east Queensland regional plan.

“The government’s success in delivering these key strategic initiatives will shape industry confidence over the next few quarters,” he said.

“Given that property is Queensland’s biggest industry, providing 240,000 jobs across the state, these reforms must be priorities 1, 2 and 3 for the government.”

“A more confident property industry will translate directly into more jobs, greater prosperity and stronger communities right across Queensland.”

Treasurer Curtis Pitt agrees with Mountford, saying that the two-point rise is certainly positive news for the state.

“It’s very encouraging to see confidence in the Queensland property industry is on the rise,” he said.

“The Property Council acknowledged that our positive economic policies are one of the key factors behind this increased confidence.

Mr Pitt also said there were several major developments in the pipeline for Brisbane, which could potentially generate a further rise to our local economy.

“Work is already underway on the Queens Wharf integrated resort development in Brisbane… other proposed developments such as the Herston Quarter in Brisbane are also being progressed,” he said.

“These projects have the potential to create thousands of jobs and generate economic uplift in Queensland.”

Another person to welcome the news was the Opposition’s Tim Nicholls who says one of the underpinning reasons for the positive shift is the economy.

“I think what we are seeing, what is occurring in Sydney and Melbourne, as the prices there are reaching their peak, (is that) people are looking for a value proposition and there is a value proposition in Brisbane and Queensland which is encouraging people to invest here,” he said.

With all of these developments in the pipeline and more positive news from industry surveys (once again), it is very apparent that Brisbane’s property industry is moving in the right direction – which is definitely music to the ears for any local investor.

To find out what investment opportunities are currently available or new listings about to hit the market here in the Brisbane CBD, contact Hannah Schuhmann, Principal of HS Brisbane Property, on 0419 782 133.

^* The ANZ/Property Council Survey is the nation’s leading measure of industry confidence, with over 2,200 respondents across the country participating in the survey.