Queensland property market activity continues to grow

Queensland’s property market has continued its revival with a strong increase in the number of lodgements with the Queensland Titles Registry in 2013.

Minister for Natural Resources and Mines Andrew Cripps said latest statistics show the Titles Registry received an average 3,240 lodgements per day during December 2013, well above the overall 2013 daily average of 2,640 lodgements.

“These figures are good news for Queensland’s property market and shows continued optimism in the recovery of the economy and confidence in the policies of the Newman Government,” Mr Cripps said.

“Construction is one of the four key pillars of the Queensland economy and strong property market activity is great news for economic growth and jobs in this sector.

“To average 3,240 lodgements in December 2013 compares favourably to the 2012 daily average of 2,470 lodgements and the 2,350 average per day recorded during 2011.”

Mr Cripps said the majority of lodgements during 2013 were title transfers, most of which were property sales, new mortgages and mortgage releases.

“New lot creations also steadily increased during 2013, with an average of 3,460 new lots being created per month for building projects such as subdivisions and housing developments,” he said.

“This compares with the 2012 monthly average of 3,240 lot creations.

“Most lodgements happened online, proving that the Department of Natural Resources and Mines’ eLodgement system is a cost effective and efficient way for customers to do business with the Queensland Titles Registry.”

The Property Council/ANZ Property Industry Confidence Survey released today highlighted that Queensland’s property industry is the most confident in the nation.

Queensland Executive Director of the Property Council of Australia Ms Kathy Mac Dermott said the survey polled approximately 2,600 property and construction industry professionals from across the country in December 2013, seeking their views on the future outlook for the property industry in the March quarter.

“The sustained lift in confidence in the Queensland market during the past 12 months has been most recently driven by the ongoing recovery of the residential market. The survey results are another step towards an industry recovery and a more positive property cycle,” Ms Mac Dermott said.

More information about the Queensland Titles Registry is available at www.dnrm.qld.gov.au/land/titles-valuations

[ENDS] 16 January 2014

Media contact:  Eleisha Rogers 0413 375 088