Confidence in the Queensland property market is at its highest level in two-and-a-half years, according to the 2014 Property Council of Australia - ANZ Property Industry Confidence Survey.
Sentiment regarding the property market during the year ahead rose to 152 for the March 2014 quarter, up from 104 during the same time last year.
This confidence is being attributed to improved economic growth expectations for the state. Additionally, the steady weakening of the Australian dollar is set to support the state's tourism industry.
"That result tells us that the property industry in this state has confidence in the future and in its capacity to do business in Queensland," said Premier Campbell Newman in a January 16 media release.
"It's also great to see that Queensland is the only state where the majority of industry professionals believe the state government is doing a good job in planning and managing growth."
Acting Treasurer John McVeigh also said the survey showed Queensland had the highest expectation of economic growth for 2014, highlighting planned property construction for the March quarter in the residential sector.
All of this is favourable news for those considering Brisbane property investment.
Just as important as solid home prices and high demand in the property market is general economic growth, as factors like employment can have a major impact on how properties perform.
Fortunately, Queensland seems to be poised to offer owners of Brisbane investment properties solid return.
However, finding and purchasing a property still offers many potential pitfalls for investors, which is why utilising a qualified buyers agent in Brisbane remains a smart strategy, especially for those who may not be familiar with the local property market.
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