We are already starting to see the effects of the First home owners grant and news reports are that other agencies are experiencing the same. See our selection of First Home Owner Property
Entire market to lift from first home owners grant
Even if you are selling a $1,000,000 property the first home owners grant is good for you. Simply put more first time buyers will enter the market, snapping up $300,000 properties. These sellers upgrade to a $500,000 property, who’s sellers upgrade to an $800,000 property and so on. It has a flow on effect right through the market and it is good news.
No Better Time For First Home Buyers
If you are a first home buyer now is your opportunity to move with the First Home Owners grant increasing to $14,000 for resales and $21,000 for those building. Coupled with the Queensland Government’s recent stamp duty concessions on property up to $500,000, it makes now an opportune time to become a fist home owner.
In some cases this means NO STAMP DUTY and $14,000 from the Government. I know that most of our clients who are reading this are not first home buyers, but now is a great time for your family to be entering the market as first home owners. Send this email on to them.
Kind Regards
Jay Carter
For more information on stamp duty and the first home owners grant follow these links:
Queensland
Stamp Duty Concessions
First Home Owners Grant
New South Wales
Stamp Duty
First Home Owners Grant
Thursday, October 16, 2008
Monday, October 13, 2008
Rate Cut to Boost Gold Coast Real Estate Market
WOW, a 1% cut to interest rates! This is on top of 0.25% last month. If you are sitting on the sidelines waiting to buy, what more do you need, how can it be any clearer, why would you wait any longer – prices are only going one way from here and that is up.
In commentary on the rate cut, news.com.au were unquestionably bullish about how it will affect the property market saying “the massive rate cut will have people rushing back into the property market”.
This may be overly positive, but it is clear that the end of the restrictive stance on monetary policy by the RBA is at an end. In my September newsletter I said that “If you are trying to pick the absolute bottom of the market, it may have passed you by, but it is still not too late to make an astute purchase” and this comment holds even truer now we have had such a dramatic change in policy.
Some in the media have since questioned “what do the Reserve Bank know that the rest of us don’t, to be lowering rates by this much?” But for now buyers should be happy with the reduced rate and sellers should be happy that.
In commentary on the rate cut, news.com.au were unquestionably bullish about how it will affect the property market saying “the massive rate cut will have people rushing back into the property market”.
This may be overly positive, but it is clear that the end of the restrictive stance on monetary policy by the RBA is at an end. In my September newsletter I said that “If you are trying to pick the absolute bottom of the market, it may have passed you by, but it is still not too late to make an astute purchase” and this comment holds even truer now we have had such a dramatic change in policy.
Some in the media have since questioned “what do the Reserve Bank know that the rest of us don’t, to be lowering rates by this much?” But for now buyers should be happy with the reduced rate and sellers should be happy that.
Gold Coast Real Estate Market Update
Market Review
As I see it , there are 3 fundamentals at work in the market that will see the Gold Coast property market hold well.
Firstly, as financial markets show weakness due to exposure to complex financial instruments people will move to assets they understand like cash and property. Residential property is REAL. You can paint it, put a sledge hammer to it and amazingly you can even live in it. It is real and tangible, it not a “collateralized debt obligation”, it is not smoke and mirrors or full of hot air. There will continue to be a flight to real assets.
Secondly, the old hammer of population growth. This is even more important now the Australian Bureau of Statistics has revised up the population growth for regional Queensland. By 2051, regional Queensland will have an ADDITIONAL 2,300,000 residents, the bulk of whom will be on the Gold and Sunshine Coasts. Compounding this, troubles with the “development financiers” on the Gold Coast (and some developers) means projects will stall. Delaying supply further drives prices north, especially with strong and increasing demand brought on by population growth.
Finally, we have also turned the corner on interest rates. More cuts may be required, but the interest rates are coming down. This will further stimulate demand.
It certainly is an interesting time to be in Gold Coast Real Estate.
Property Management Special50% off your next letting fee. For more information contact our Senior Property Manager, Victoria Lawrence and mention this newsletter or click here
As I see it , there are 3 fundamentals at work in the market that will see the Gold Coast property market hold well.
Firstly, as financial markets show weakness due to exposure to complex financial instruments people will move to assets they understand like cash and property. Residential property is REAL. You can paint it, put a sledge hammer to it and amazingly you can even live in it. It is real and tangible, it not a “collateralized debt obligation”, it is not smoke and mirrors or full of hot air. There will continue to be a flight to real assets.
Secondly, the old hammer of population growth. This is even more important now the Australian Bureau of Statistics has revised up the population growth for regional Queensland. By 2051, regional Queensland will have an ADDITIONAL 2,300,000 residents, the bulk of whom will be on the Gold and Sunshine Coasts. Compounding this, troubles with the “development financiers” on the Gold Coast (and some developers) means projects will stall. Delaying supply further drives prices north, especially with strong and increasing demand brought on by population growth.
Finally, we have also turned the corner on interest rates. More cuts may be required, but the interest rates are coming down. This will further stimulate demand.
It certainly is an interesting time to be in Gold Coast Real Estate.
Property Management Special50% off your next letting fee. For more information contact our Senior Property Manager, Victoria Lawrence and mention this newsletter or click here
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