News Australia: Queensland property market ushered in a "recovery season"
Sydney Today News on March 3, Australia Eastern Time, the Queensland property market may usher in the long-awaited moment of recovery. All key indicators of the real estate market recovery are showing an increasing trend.
The latest survey by the Australian Urban Land Research Institute found that the key indicators of market recovery in Queensland have grown faster than other states. Duncan Maclaine, head of the Institute’s Economic Policy Research Center, pointed out that the approval rate for housing construction, loans and the number of registered vacant residential lots have increased.
In January, Queensland’s private sector housing approval rate rose 5.7%, of which 17.5% belonged to detached housing. Mortgage loans for newly built houses increased by 5.8%, and mortgage loans for completed houses increased by 1.6%. Mr Maclaine attributed it to the state government’s "$10,000 New Home Construction" acceleration plan.