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Queensland Buyers ‘Confident Now is Time to Buy’

By Adrienne McTavish

People with houses for sale in Bulimba may be encouraged by new statistics showing that people in Queensland are optimistic now is the time to buy a property.

The Genworth Homebuyer Confidence Index revealed the state has the highest proportion of individuals in the country who believe investing in the current climate is a good idea (53 per cent).

This result continued a trend witnessed in September 2012, with Queenslanders being similarly confident then in the performance of the state's property sector.

The index also revealed first-time buyer attitudes, with this group being the most financially prudent demographic across the nation.

"Queensland FHBs were the most likely to expect to need a deposit of more than 20 per cent (37 per cent) despite having the highest affordability, reflecting the fact that they are the least comfortable borrowing more than 80 per cent of the value of their property at just 26 per cent," the report stated.

Residents of the state also experienced a smaller than average drop in confidence when compared with the Australian average, although the index claimed changes to first-home buyer grants had adversely affected the market.

Genworth said the Australian real estate sector as whole is becoming more investor-friendly, with falling interest rates making shares less attractive.

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