Premier says Queensland property sector outlook 'optimistic'

PREMIER Annastacia Palaszczuk heaped praise on the property sector in a speech to the Property Council on Tuesday, saying there are plenty of reasons for optimism in the sector.

She said the council had estimated a contribution to the economy of nearly $34 billion a year or 11.4% of Queensland's economic activity.

"Latest ABS Lending Finance data shows investor housing finance in Queensland for the purchase of existing dwellings hit $4.8 billion in the July quarter," Ms Palaszczuk said.

"That's the highest level since 2007.

"Investor finance commitments for the construction of new dwellings are also up, having increased by $450 million over the same period last year."

The Premier said she recently had a very constructive conversation with the new Prime Minister, Malcolm Turnbull, adding they were on the same page when it comes to innovation, start-ups, new technologies - tackling the challenges of the future.

She said the first meeting of the promised Construction, Planning and Property Red Tape Reduction Panel would be in October with the involvement and support of the Property Council.

At end of this week she will lead a trade delegation to China and Japan.