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 Re:FIRST TIME BUYERS -ARE YOU BEING FOOLED?
By: puyi
4/05/2009
7:24 pm Yahoo! Profile:
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Extracted from Yahoo Finance News:
'Artificial boom'
A leading property analyst says buyers will get a better deal if they wait for the deadline on the first homebuyers grant to expire.
Real estate ethics campaigner Neil Jenman says the grant has created an artificial boom at the bottom end of the market, with prices rising more than what the grants are worth.
He says if people wait until after June 30, they may get a better deal later.
"If the grant is not extended it will actually be better for a lot of people, because the prices will come back a bit and they could come back more than the grant," he said.
"Take away the $7,000 bonus, the house drops in price by $10,000, and you're $3,000 better off.
First home buyer Rebecca Bowers says competition with other buyers has been so fierce, she does not want the bonus grant to continue.
"I'm kind of hoping that they will stop it," she said.
Tim Walsh is also looking for a unit in Sydney, but he is not fussed if he does not find one in time.
"I think that [housing prices] are inflated now by about $20,000," he said. |
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