Tuesday, September 02, 2008

Rural industries create Qld regional housing boom

Posted 20 minutes ago

The mining, cattle and sugar industries have triggered a housing boom in Queensland's regional centres.

The ANZ Regional and Rural Quarterly Report shows house prices in Gladstone have jumped 25 per cent in the past 12 months, followed by Ipswich on 22 per cent, Gympie and Bundaberg on 16 per cent and Toowoomba on 8 per cent.

Economist Paul Deane says things are looking good for the sunshine state.

"I guess what it's really a reflection of is generally how well economic conditions are in Queensland," he said.

Mr Deane says while there may be some slowing in the next quarter, investment is expected to remain strong which will continue to support house prices.

"Perhaps there will be some slowdown, but signs are that certainly investment will remain strong in the area which will certainly help support house prices moving forward," he said.

The report also says the unemployment rate in southern Queensland fell to 1.4 per cent in July.

source: Rural industries create Qld regional housing boom
ABC Online, Australia - 11 minutes ago