City's housing market fastest growing in the state: data

IPSWICH'S housing market is booming.

New ABS data shows in the past year there has been just shy of a 35 per cent increase in residential property approvals.

That represents more than 1000 more new homes approved compared to the previous year and shows Ipswich is leading the state in growth.

Approvals surged to 4,618 in Ipswich up from 3,428 for the same period last year; a rise of 34.7 per cent.

Ipswich MP Jennifer Howard said numbers were up across Queensland up 1.6 per cent in the September quarter 2016, to be 9.3 per cent higher over the year.

"This data is encouraging in many ways for our construction industry, which is one of the State's largest employer groups and big employer locally.

"Any first home owners looking to enter the market should certainly be looking at Ipswich.

"Not only are property prices here more affordable, the Government's $20,000 Queensland First Home Owners' Grant goes further.

"This grant initiative is designed to create more jobs and help more people into home ownership. More jobs mean more Queenslanders have the confidence to buy their first home, or upgrade their current home.

"The Palaszczuk Government is committed to creating the right conditions to grow jobs, deliver economic certainty and lift business confidence.

Statewide recent ABS data show the total value of residential building approvals, in original terms, in the 12 months to October 2016 totalled $14.43 billion - 2.0 per cent higher than the 12 months to October 2015.

In original terms, a total of 48,949 new residential dwelling units were approved in the 12 months to October 2016.

For more information about the Queensland First Home Owners' Grant visit www.firsthomeowners.initiatives.qld.gov.au



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