Information For Clients, Friends & Associates of LJ Gilland Real Estate Pty Ltd as follows:-
Please keep a look out for our website translated to Chinese.
JUST 11%
Great politics, poor policy.
That used to apply readily to the Qld Labor Party, but now, sadly looks like it is going to start applying to the Qld Coalition.
In tomorrow’s budget, the Newman government will scrap the current First Home Owner Grant and replace it with a $15,000 handout to first-time buyers purchasing off-the-plan or newly-constructed properties. First-time buyers who purchase an established property, will still qualify for the $7000 grant if they sign contracts by October 11. The re-shaped First Home Owner Construction Grant will kick-in on September 12 for properties valued up to $750,000.
The changes:
- $15,000 for first home buyers of new and off-the-plan properties applies from September 12
- $7000 grant for first home buyers of existing properties to be scrapped from October 12
- New $15,000 grant applies to newly constructed homes, or properties bought off-the-plan
To be eligible, first home buyers must:
- Make the property the principal place of residence within one year of taking ownership and live there for at least six months
- Not sell the property within a year of moving in
- Buy or build at a property worth less than $750,000.
According to the media release, about 5,400 First Home Owner Grants were paid in Queensland in the June quarter this year.
Hmmm, sounds like a winner hey.
Well, think again. I, along with many more in the property industry, expected a lot more.
Did you know that there were 183,671 home loans across Queensland last year, of which just 19,613 or 11% were to first-home buyers? Forty-five per cent of loans were made to owner-residents upgrading or downsizing; with 44% or 82,000 loans granted to other borrowers, including investors.
Also, did you know only 11% (a nice coincidence?) of first home buyers buy a new property – 89% opt to buy something second hand, and with good reason – a second hand property often offers much better value for money and a $15,000 relief isn’t going to get many of them to switch.
This change, for mine, will most likely see fewer first home buyers in Queensland.
Let’s hope there is much more about stamp-duty relief – i.e. total removal for all new property regardless of property type – in tomorrow’s budget.
And Campbell and co, please remember INVESTOR isn’t a scary word. While it might have petrified Queensland Labor, don’t make the same mistake.
One thought on “Just 11%”
1. 
Im not sure what Campbell is up to Michael, but just as first home owners start returning back to the market in more than 5 years he take away the most important piece of he puzzle that instills confidence to the establish housing market, giving this incentive to the building industry only will not work they will simply load the price again like they did last time and continue to profit as will the land developers who over charge for a 400m2 block of land, i can only hope that he has something better in mind for the poor old established home owners that would love a piece of the pie to help them lure buyers back to help them sell their homes that are overpriced in comparison and now will not be able to compete unless they continue to drop their price further and further below what they paid in the past 7 years…bring in FREE stamp duty to any home owner on a PPR providing they live in the home for a min of 5 years and if they sell it then charge them a prorata fee for selling then. Investors and existing home owners need the incentives not the developers, builders or councils that profit from the huge costs…better still drop the fees to develop land and bring it back under $150 a block and then you will see growth and stimulus! In the meantime ill look forward to seeing my local builders driving new Landcruiser 4×4 utes instead of old Holden 1 tonners…. that’s my 2 bits lol
“Unquote” of Matusik Just 11% Post
Online residential listings rise 1.5% in August to 373,510, led by Melbourne, Sydney and Canberra
By Jonathan Chancellor
Wednesday, 05 September 2012
Vendors appear hopeful of better fortunes this spring selling season with the total number of residential properties listed for sale online rising 1.5% over August to reach 373,510, according to figures from SQM Research.
This contrasts starkly with the same time last year, when listings fell 3.8% from 377,213 in July 2011 to 362,740 in August 2011.
Sydney and Melbourne both recorded “substantial” 5.9% increases in monthly residential properties listed for sale, to reach 31,310 and 51,194 listings respectively.
Click to enlarge
SQM Research managing director Louis Christopher described market conditions as a little better than this time last year, "but it doesn't mean we are going to head into a big property boom''.
"If rates stay on hold, that will be conducive to stimulating the housing market, and we are likely to see continued market recovery, but there are many X-factors at play,'' he told news.com.au.
Christopher says rising rents (up 7% annually over the past five years) are good news for investors, but they have been offset by declining house prices.
He expects there will be further seasonal rises in stock levels as the spring selling season enters full swing.
Click to enlarge
While residential stock on market in Sydney is just 0.9% higher than a year ago at 31,310, Melbourne has the highest year-on-year increase of all the mainland capital cities, with stock up 14.1% to 51,194 in August.
In August last year there were 44,859 properties listed for sale in Melbourne.
The other notable increase was Canberra, where stock on market increased by 8.8% over the month to 3,758 online listings. This is up 13.6% up on August 2011.
“Canberra’s large monthly increase may well signify a downturn for that market as federal budget spending is cut,” noted SQM research.
Bucking the monthly trend of rising stock levels was Perth, which recorded the largest monthly decline of 1.8% to 18,053. Residential listings were down 10.7% on the same time last year when there 20,207 listings.
Residential stock levels have declined in Perth, Darwin and Brisbane – which all benefit from Australia's mining boom
Darwin residential listings are down 23.3% over the 12 months to August to 1,282 while Brisbane listings are down 4.7% to 28,666.
“Increasingly the market is segmented. It is becoming difficult to discuss just one national housing market and in my opinion, that will be to base line story for the remainder of 2012,” said Louis Christopher, managing director of SQM Research.
While Hobart stock on market declined by 1.7% over August to 4,388 properties listed for sale, there are 24.1% more properties for sale than a year ago. At this time last year there were 3,536 listed for sale in Hobart.
Have you seen the new video explaining advertising options on realestate.com.au? It could be a great listing tool to use in your presentations?
http://sellingguide.realestate.com.au/video/why-list-online
Also, here is the link to the Selling Guide website specifically set up for our sellers.
http://sellingguide.realestate.com.au/
Have a great week!
Best regards,
Linda & Carlos Debello
http://www.ljgrealestate.com.au
http://twitter.com/GillandDebello
http://au.linkedin.com/in/lindajanedebello
http://gillandrealestate.wordpress.com/
http://www.facebook.com/pages/LJ-Gilland-Real-Estate-Pty-Ltd/169194919788253
Confidential email:- The information in this message is intended for the recipient name on this email. If you are not the recipient please do not read, copy distribute or act upon the message as the information it contains may be privileged. If you have received this message in error, please notify the writer by return email. Thank you very much for your assistance in this matter and your co-operation.
No comments:
Post a Comment