Queensland's economy 'getting stronger'

New economic reports have highlighted the strength of the Queensland economy, according to the state's deputy premier.

Andrew Fraser, who is also the Queensland treasurer, remarked yesterday (January 23) that a recent CommSec report ranked the state as displaying the second-largest level of economic growth in the country.

Another report, published by Deloitte Access Economics, highlighted that Queensland has the highest level of expected growth for the current business year, as well as 2012-13.

But Fraser stressed that more needs to be done to support the housing sector, which was identified by CommSec as a weak area in an otherwise strong economy.

Measures including the Bligh government's extension of the Building Boost scheme have been put into place to support the housing sector - and could support those who are planning a Brisbane property investment.

This move, Fraser said, has been supported by a range of industry groups, including Master Builders, the Housing Industry Association and the Property Council of Australia.

The Real Estate Institute of Queensland also welcomed the extension, which will allow home buyers who purchase or build a new home valued at less than $600,000 to receive a $10,000 boost until April 30.

Posted by Tyler Wyndham