BUYERS, sellers and agents continue to see the benefits of the First Home Buyers Boost, which has been extended until September 30.
Dawn Mee, a sales consultant at L.J. Hooker Thornlie, believes this is good news for the market and will help in rectifying the market slump.
“The original boost to the grant has had a very positive effect so far and the extension, combined with the gradual phasing out of the boost, will allow the market to recover steadily, while giving first-home buyers plenty of time to find a property,” she says.
Despite the boosted grant, first-home buyers are encouraged to seek advice to ensure they have the capacity to support the purchase.
The bonus may help towards the deposit but you need to set achievable mortgage repayment levels before deciding on any property purchase,” Mrs Mee said.
“Keep an open mind and do your research thoroughly regarding suburbs and types of dwellings, speak to local real estate professionals who will be able to provide facts and statistics about the market you want to buy into.”
Reduced to $14,000 after September 30 for new homes and $10,500 for existing purchases, the boost will stop on December 31 with the initial $7000 grant remaining to assist first-home buyers.