Benefits of living in Queensland

Benefits of living in Queensland

Buying property in rural Queensland just became a more attractive option thanks to $683 million in State Government subsidies to bring electricity costs into line with those of metropolitan centres.

Those thinking about taking out a home mortgage or refinance in order to secure property in the area will be pleased by the decision to make electricity subsidies available to certain residents in more remote regions in the Sunshine State.

Rural and regional Queenslanders will benefit from the subsidies that will make electricity prices more equitable across the board.

It will ensure that country residents will pay the same electricity prices as those based in the capital, even though regional and rural areas are generally more expensive to service, Minister for Energy and Water Supply, Mark McArdle, said.

The announcement was made as part of the state's 2014-15 state budget, which Treasurer and Minister for Trade, Tim Nicholls, said was a positive step.

"We are making significant progress in restoring our finances, growing a four pillar economy through a robust and streamlined regulatory environment, revitalising frontline services and funding job creating infrastructure projects," Mr Nicholls said.

Furthermore, the 2.5 per cent official cash rate is conducive to cheap home loans, which makes securing the right home an even better prospect.

Queensland could be the right place to buy in, if comments from Real Estate Institute of Queensland (REIQ) Chief Executive Anton Kardash are anything to go by.

"Median prices are on the rise and properties are selling quicker throughout Queensland, as buyers take advantage of more favourable market conditions," Mr Kardash explained in a statement last month.

"We're seeing sustainable growth without any rapid price swings, which is the sign of a healthy market."

Mr Kardash's comments came following the release of the REIQ's March quarter median house price report, which discovered that all but three of the state's major regions had steady or better median house price results year-on-year.

Image credit: Nam Nguyen