Budget 2009 extends the FHBG, but only just!
Hi all,
I was very interested to see what the Budget had in store regarding FHOG etc
http://www.news.com.au/story/0,27574,25471426-5012587,00.html
There was such a rush from brokers and real estate agents and new home builders to " get in" before June 30..
what impact would this have on Housing prices? I imagine they would stay the same as they are now, with no real effects? The effects would take place now, after December.
Keen to hear any thoughts on this subject.
Regards,
Very dissappointed with this part of the budget. Overall though, I was surprised at how sensible Labor's budget was, not that I agreed with everything they did, but at least it didn't all seem stupid.
SThe amusing one for me is new homes in Victoria will actually not sell until 1 July now. There will be a sudden glut on the market.
VIC government announced an increase in the state top up for new homes from $5k to $11k from 1 July on the assumption that the federal grant would decrease.
Now with the 3 month extension, you get $32k from 1July to 30 Sept. Really good
$36,500 for regional Victoria.
The problem is that prices will be artificially inflated during this time… no help to anyone.
And I wouldnt be surprised if the VIC government adjusted the grant so that it conincided with the governments scale-back of the FHOG.
Vic's SRO have already published the details of the new grants at $32k and $36.5k on their website. No indication of any changes to take place.
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