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Queensland's long-term prospects 'present opportunities'

Despite the problems caused by the recent flooding, Queensland's long-term prospects could well appeal to those looking to invest in Australian property.

Despite the problems caused by the recent flooding, Queensland's long-term prospects could well appeal to those looking to invest in Australian property.

Nick Behrens, general manager policy of Chamber of Commerce and Industry Queensland, has told the Sydney Morning Herald that the future looks bright for Brisbane.

He said: "The fundamentals of the Queensland economy are still quite sound."

Mr Behrens highlighted the area's rapid population growth and strong infrastructure as key drivers behind this trend, which could attract those looking to invest in Australian property.

While he concedes that the region's economic performance for 2011 will be poor, he highlights the fact that the next financial year will see things pick up.

The newspaper reported that retail in the area is due to start recovering, with a number of business owners predicting that the rest of the financial year will be strong.

Cameron Kusher, research analyst at RP Data, recently told API Magazine that the number of first-time buyers entering the Australian property market will increase this year.

Posted by Steve Douglas

- property, Brisbane, flood, economy

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