What the Queensland election ‘can do’ for the property market

What the Queensland election ‘can do’ for the property market

Posted on Monday, March 26 2012 at 4:34 PM

A Queensland property boom has up-shifted from ‘likely’ to ‘certain’ following the Queensland state election result, according to Terry Ryder of hotspotting.com.au.

He says the sunshine state was already heading into a real estate recovery, with the resources sector and key indicators suggesting rising property markets, but the Liberal National Party’s smashing of Labor on the weekend is a huge boost for confidence.

“People wanted a change of leadership and they got it,” Ryder says.

“Such a result always engenders confidence, the key element in any property market. Opportunities now beckon to buy well in markets with great growth prospects.”

Incoming Premier Campbell Newman and his LNP Government is expected to win at least 73 of the 89 seats, while Labor currently has just seven seats (although five electorates are still being counted, with Labor leading four of those).

Ryder notes the change of government is timely, because Queensland was already on the brink of major economic recovery.

“The election result will supercharge that because it creates optimism. People will stop saving and start spending. There’s a perception that Campbell Newman is a strong, charismatic, can-do leader. If he can deliver what he promises, people will start behaving in a different way.”

Ryder adds Newman is already at an advantage, because he’ll walk into office at a time when things are beginning to turn around for the state.

“That has nothing with anything to do with what he’s done, he’s just coming in at a perfect time. Queensland is about to become a boom state. That feeling started last year but we’re really starting to see it this year.”

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