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Business confidence in Queensland increases

On Feb 06 2014
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  • News


The latest Westpac Group CCIQ Pulse Survey of Business Conditions has highlighted the increasing ...

The latest Westpac Group CCIQ Pulse Survey of Business Conditions has highlighted the increasing strength of Queensland's economy, which could be great news for anyone considering property investment in the region.

As the economy begins to develop, people will begin to flock towards the regions with the most growth. Now could be the perfect time to secure a property in the state in order to take advantage of the impending population boom and strengthening business sector.

Treasurer Tim Nicholls said the Newman government's efforts to help stimulate the region were beginning to pay off, with general business conditions and sales revenue across the state increasing to the highest point in a year during the December quarter.

"Business confidence remains at near record levels, at 58.8 points in Queensland, eight percentage points higher than in the final days of the former Labor Government," said Mr Nicholls in a February 6 statement.

"Importantly, almost 75 per cent of business respondents are also expecting continued or stronger profitability levels into 2014."

This could present a great landscape for small business owners to expand their operations. Now could be the perfect time to secure commercial property in Queensland, with the expectation of continued growth heading into the future.

Regardless of whether you're interested in capital city real estate or a smaller, more regional area, there are a wide range of options available.

"Additionally the National Australia Bank’s Business Conditions Index, also released today confirms business confidence is surging ahead in Queensland, with seasonally adjusted figures rising to 12 points in December 2013, three points higher than the September quarter results," said Mr Nicholls.

"The Government’s pro-growth approach is delivering results for the state’s economy, with ABS data also highlighting three-quarters of all the jobs created in Australia in the year to December were created in Queensland."

CCIQ General Manager Nick Beherns supported these claims, stating that the historical context of this growth shows that Queensland is currently tracking at near peak economic levels.

"Most importantly, general business conditions rose above 50 percentage points for the first time since December 2012 to sit at 52.4, while sales revenue also jumped above 50 points for the first time since June 2012," said Mr Beherns in a February 6 statement.