Redlaw Conveyancing said that it was encouraged by the release of figures showing confidence returning to the Queensland housing market.

ABS figures released on Monday show that trend finance approvals for owner occupied dwellings rose 0.2 per cent to be 6.4 per cent higher over the year and that seasonally adjusted housing finance approvals rose 0.6 per cent in September.

Queensland Treasurer Tim Nicholls said that a variety of government policies had helped toward this result. “Interest rate cuts have helped mitigate the impact of global economic uncertainty on consumer confidence,” said Mr Nicholls. “We reinstated the principle place of residence transfer duty concession that the previous Labor Government scrapped, wiping up to $7,000 off the cost of buying the family home, and made carefully targeted changes to the first home owner grant.

“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.”

Redlaw Conveyancing Legal Practice Director Gary Hutchinson said that “This is excellent news for the state. These figures demonstrate that, even in times such as these, Queensland is still making great leaps forward economically.”

Mr Hutchinson also said he was looking forward to the upcoming changes to the Property Agents and Motor Dealers Act. “When you combine what is already happening in the marketplace with the simplification of the process of buying and selling real estate, the sky is the limit. I honestly believe that we are coming out of this dip and that the only way from here is up.”