Queensland leads the pack for investor activity
Queensland has been one of the nation's property hot spots for some time, but there is new data to suggest that the state could now be outperforming many other parts of the country.
There are many reasons why investors might be attracted to a particular area - its employment opportunities, provision of services and even climate can all play a role.
The latest figures from the Australian Bureau of Statistics show that Queensland must have a whole host of reasons why people want to locate there, as lending finance is up on last year - and rising.
Queensland - a standout performer
Queensland's success in attracting investors is perhaps best assessed in comparison to the rest of the country.
In the three months to March this year, gross state product was up 1.4 per cent compared to the previous quarter, or 3.6 per cent in relation to the same period of 2012.
For the rest of Australia, these figures stood at 0.4 and 2.4 per cent respectively, showing that Queensland has truly made a name for itself as one of the country's best performers.
Growth in gross state product is not the only reason why Queensland property investors should be celebrating - state accounts for the March quarter illustrate a 12.4 per cent rise in business investment.
This comes at a time when the rest of the country has witnessed a 5.6 per cent fall in investment, illustrating that all eyes are on Queensland as Australia's economic powerhouse.
Success for Queensland property
Property investors are recognising the opportunities that Queensland presents, which has had a positive impact on the market as a whole over recent months.
Recently released figures from the Real Estate Institute of Queensland (REIQ) showed that ten out of the 12 major regions across the state have recorded steady or improved house prices over the past year.
The statistics, which also cover the three months to March, show that Rockhampton is the state's best performing region, as the median house price in the city increased 7.8 per cent.
Mackay likewise posted strong results, as house prices increased by an average of 3.2 per cent over the three-month period.
With more investment being made in the state as whole, it is possible that this is an effect that will be seen in other areas of Queensland in the near future.
The improvement that has been seen in Queensland's property market has been slow and steady, which is likely to offer some comfort to those interested in real estate investment.
The ability to maintain the current level of growth seems to be on the horizon, giving investors plenty of opportunity to take advantage of the Queensland market for many years to come.