Positive activity in Queensland's property market
A strong property market in Queensland will help boost economic growth and jobs, according to a ...
A strong property market in Queensland will help boost economic growth and jobs, according to a statement from the Queensland government.
Such news is positive for those with interests in residential, rural or commercial property.
Boom in title transfers
According to Minister for Natural Resources and Mines Andrew Cripps, recent statistics show a favourable increase in Titles Registry lodgements.
This shows a strong revival in the Queensland property market, which is excellent news for the state.
Mr Cripps said Queensland's Title Registry received an average of 3,240 lodgements per day in December 2013.
This figure is well ahead of 2013's daily average of 2,640 lodgements and may help increase "optimism in the recovery of the economy and confidence in the policies of the Newman government," according to Mr Cripps.
Lodgements have been on the rise over the past few years. In 2011, an average of 2,350 lodgements were recorded per day. In 2012 the daily average was 2,470 and in 2013 the average was 2,640.
The high figure of lodgements in December may be of interest to those buying a property or involved in property investment in Queensland.
The majority of lodgements during 2013 were title transfers. Most of these were new mortgages, property sales or mortgage releases.
Title registration is an important facet of the Queensland property system, in order to recognise legal ownership of land, under the Torrens System. Land in Queensland can be held in sole or joint tenancy, or tenancy in common.
Construction in Queensland
There was also a favourably steady increase in new lot creations during the 2013 year. A massive 3,460 lots were created each month for various building projects.
Such projects including housing developments and subdivisions. Mr Cripps cited construction as a key pillar of Queensland's economy - it can improve economic growth and create jobs. More housing developments means more supply in the market, benefitting buyers in the sunshine state.