Much has been said about yesterdays stimulus package unveiled by the government but is this enough to give the property sector a push along?
The Government has announced it will double the first home owner grant from $7,000 to $14,000, and triple it to $21,000 for new homes built.
The lower end of the market definitely needs a push along, whilst the higher end will probably see a lot of people having to offload investment properties, possibly adding a lot of new listings onto the market and perhaps driving properties prices lower. Will state governments also get involved with some kind of stimulus packages of their own?
Real Estate Institutes and industry groups across Australia have welcomed the move, and some have said it will increase prices, but will it help?
What are your thoughts?
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