Stable power prices will make Queensland shine

Stable power prices will make Queensland shine

Property investors have a range of factors to consider when buying property for their portfolio, from securing the right mortgage interest rate to deciding where to buy.

When it comes to selecting the right area to invest in, attention to a property's particular aspects as well as the neighbourhood it's located in is essential.

A recent announcement may pique the interest of those with a Queensland-based property portfolio.

Stabilisation of power prices

Minister for Energy and Water Supply Mark McArdle launched "PowerQ: a 30-year strategy for Queensland's electricity sector" on June 20, which addresses key issues in the energy sector in the decades to come.

For tenants, the news is certainly favourable, and landlords should pay attention accordingly.

Electricity prices will be stabilised in the future as part of the PowerQ strategy, which will ease the cost of living.

Power prices have shot up by more than double over the last 10 years according to a statement from Mr McArdle.

"We know that a strong electricity sector underpins our promise to create jobs and grow an economy around the four pillars of agriculture, construction, resources and tourism," he explained.

"Without comprehensive reform, electricity prices will continue to surge - doing nothing is not an option."

The PowerQ strategy is the result of government consultation with Queensland residents as well as generators, electricity retailers and industry retailers.

Diversity and competition will be encouraged within the sector in order to boost investment and innovation, while a focus on an affordable and efficient electricity market will be welcomed by homeowners and tenants alike.

"PowerQ will give Queensland households, small businesses and industry greater choice, flexibility and control over how they use and pay for electricity," Mr McArdle noted.

Investors may wish to utilise a mortgage calculator to establish their borrowing capacity then direct their attention towards the brightly-shining Sunshine State.

Image credit: Nayu Kim