Local property investment expert Roy Sanderson says the first home buyer bonus should be extended to keep Casey’s house prices affordable, ease pressure on rents and keep the economy afloat. 31353Picture: Stewart Chambers
By Melissa Grant and Kelly Yates
THE Federal Government’s first home buyer bonus should be extended to keep Casey’s house prices affordable, ease pressure on rents and keep the economy afloat.
That’s the opinion of local property investment expert Roy Sanderson, principal of RJ Sanderson and Associates, who is calling for the grant to be available for an extra six months for new home purchasers.
The call comes after the Federal Government announced it would only keep the bonus in full for three months from July 1. It will then halve its $14,000 bonus for new properties come October, before scrapping it on 31 December.
Mr Sanderson said it was important to retain incentives for the purchase of new homes to help stimulate the economy.
“I think it needs to be extended until we can see signs the economy is recovering,” he said.
“We have the fear of the economy not doing well and high unemployment – home building is one way we can get out.
“It would secure construction jobs, keep established house and rental prices from becoming unaffordable, and help elevate the economy out of recession.”
Mr Sanderson said the first home buyers market had experienced small growth in recent times, which had been beneficial for Melbourne’s south eastern suburbs.
Darren Burke from Grants Estate Agents in Berwick said the real estate had been inundated with young people wanting to take advantage of the grants.
“We had frantic first home buyers purchasing anything back in early May as many were under the impression the grants would end,” he said.
“Since the extension announcement a week and a half ago we’ve noticed a drop in people putting offers forward as they now have more time to think.”
One of the hot spots to build in Casey is Berwick South, according to Mr Burke.
Mr Burke said a medium size block of land in Berwick costed about $220,000.
