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Confidence on the up for Queensland

By Staff Reporter
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New data from the Australian Bureau of Statistics may point to increased consumer confidence in Queensland, according to treasurer Tim Nicholls.

Seasonally adjusted housing finance approvals rose by 0.6 per cent in September.

The “total number of trend finance approvals for owner occupied dwellings” rose 0.2 per cent. This left them 6.4 per cent higher over the year.

“The September result was the second consecutive monthly increase,” Mr Nicholls said.

“Interest rate cuts have helped mitigate the impact of global economic uncertainty on consumer confidence.”

This may be the result of changes to the first home owner grant, and also to the reinstatement of principle place of residence transfer duty concession, he said, which would remove up to $7,000 off the cost of buying a new home.

“The $15,000 grant for first-time buyers of new homes is helping stimulate the construction industry, while making it easier for people to buy a home.”

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