The appointment of Treasurer Andrew Fraser as Deputy Premier of Queensland was welcomed by the property industry at what is a critical time for the sector.

Andrew Fraser has this morning been elevated to Deputy Premier after Labor MPs attended a special caucus meeting at Parliament House. He is replacing Paul Lucas who is retiring after 15 years in Queensland Parliament representing the electorate of Lytton.

According to the Property Council of Australia, the newly elected Deputy Premier has a strong understanding of the role of the property industry in the Queensland economy and a track record of engaging with the sector.

“The Deputy Premier understands that if Queensland’s property and mining industries are able to operate at their full potential, the state will enjoy a sustained economic upturn,” said Queensland Executive Director of the Property Council Kathy Mac Dermott.

According to Ms Dermott, the Deputy Premier has a track record of consulting with the property industry and a commitment to attract investment.

“We look forward to working with him to restore competitiveness and investment across the state,” she said.