Economic activity exceeds expectations
Queensland has more than proved its economic credentials over recent months, as its growth has outstripped other states throughout the country.
A strong economy is just one of the factors that people consider when taking out a property investment, so it is hardly surprising that the state has seen a rise in activity in this area.
In many respects, economic growth has exceeded expectations, as it increased by four per cent in 2012-13, well above the national average of 2.6 per cent.
Queensland has outperformed the rest of the country on a number of levels, which can only work in the favour of anyone looking at buying property there.
Economic factors work in investors' favour
One of the main benefits of investing in Queensland rental property is that economic stability can be seen across various indicators.
Not only was household consumption up by 0.8 per cent in the June quarter, but exports from the state experienced a rise of 1.7 per cent.
State treasurer Tim Nicholls also pointed to strength in private investment in Queensland, which increased 5.2 per cent over the course of the year. Business investment escalated by 9.4 per cent during the same period.
As the treasurer pointed out, this demonstrates that businesses are regaining confidence lost during the global financial crisis and are now willing to invest in ensuring Queensland continues to grow.
Employment prospects remain strong
One of the major factors that will encourage people to take up rental property in Queensland will be the employment prospects - and the state has performed well in this area as well.
The latest jobs data shows that 17,000 full-time positions were created in Queensland in September this year at a time when other parts of the country are struggling.
Data from the Australian Bureau of Statistics (ABS) shows the national unemployment rate currently stands at 5.6 per cent.
Although this marked a 0.1 per cent fall from the previous month, it nevertheless paints a disappointing picture for the rest of the country at a time when Queensland is thriving.
Sentiment is on the rise
Consumer sentiment is also increasing across the state, as identified by recently released figures from Westpac and the Melbourne Institute.
This is another factor that can only benefit investors - with people feeling more confident about what the future has in store, the chances are they will be more inclined to spend their cash and get the economy moving.
People are also attracted to areas that offer them strong prospects, making this another reason why Queensland is high on their agendas at the moment.