Queensland housing investor commitments remain at near record levels

Queensland housing investor finance commitments remain at a near record high, according to new data from the Australian Bureau of Statistics.

Treasurer Curtis Pitt said that for the three months to August 2015, investor finance commitments for the purchase of existing dwellings totalled $4.6 billion.

“Investor finance commitments for the construction of new dwellings totalled $675 million in August quarter 2015, roughly double the same period last year,” Mr Pitt said.

“The property sector is a real bright spot in the Queensland economy and it’s making a positive contribution to jobs and growth.”

Construction commitments in Queensland have generally improved since early 2014 following a period of weakness from mid-2008.

“Today’s results are further evidence of the continued confidence in Queensland’s property industry,” Mr Pitt said.

“Last week the latest quarterly ANZ/Property Council Survey showed confidence in Queensland’s property sector has risen two points.

“With Brisbane’s rental yields more attractive than those in Sydney and Melbourne, particularly for units, Queensland’s property market may become more attractive for future investors.”

Low interest rates are expected to continue to support investor activity in Queensland's housing market.

Media contact: Martin Philip 0427 919 548