Article form the Weekend Australian 31 April – April 1 2012 by Turi Condon Property Editor
With Campbell Newman sweeping into office as Queensland’s new Premier, this week, the State’s beleaguered housing sector is hoping for a boost. More than a year after Queensland’s floods and natural disasters, the State’s housing market is still one of the weakest, with Brisbane’s residential prices down and values in North Queensland, the Gold and Sunshine Coasts savaged. property Council Queensland executive director Kathy MacDermott expects the change will inject confidence into the market, but it will take time to translate into increased prices. She says the government will restore the $7000 stamp duty concession (principal place of residence concession) for the family home within its first 100 days.