Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

End of FHOG may stall activity

By Staff Reporter
26 August 2009 | 1 minute read

Sydney’s improving auction clearance rates are a positive sign for the market however impending rate rises and the end of the beefed-up first home owners grant may dampen activity.

Advertisement
Advertisement

Real Estate Institute of NSW CEO Tim McKibbin told the Daily Telegraph that although the market is going strong, the wind back of the first home owners boost in September and a possible increase in interest rates could slow market interest.

On 1 October 2009, the federal government will slash its $14,000 grant for an established home and $21,000 grant for a new property to $10,500 and $14,000 respectively.

A Residex July 2009 snapshot of the city's home values showed that it was predominately the lower end of the market that was driving the recent property price surge.

Prices in Liverpool are up 7 per cent this month compared to a drop of 8 per cent in Manly on the Northern Beaches.

End of FHOG may stall activity
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Gnarabup
66.67%
Boomerang Beach
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.