Colliers International figures show there has been a 74 per cent increase in interest with sales up 23 per cent since the 12-month boost to the First Home Owners’ Grant was introduced on July 1. The data has been compiled from the 20 residential communities and more than 6500 lots Colliers is marketing across southeast Queensland.
Colliers residential associate director Clinton Trezise expected sales would be up as much as 50 per cent by the time the boost ended – matching the 2009 sales increase when the grant temporarily went up to $21,000.“It is very likely we will see a similar result this time around, considering we have already had a 23 per cent increase in sales in the last two months from this buyer group,” he said.
Mr Trezise said interest had been strong across southeast Queensland – from the Sunshine Coast to greater Brisbane, Ipswich and the Gold Coast – with first-home buyers looking to spend between $300,000 to $550,000.
“Brisbane is still one of the most affordable cities on the eastern seaboard when it comes to real estate”.
“According to Canstar calculations, in 2015 Queenslanders were paying about 20 per cent after tax of their household income on mortgage. This is compared to 22 per cent in 1990, when interest rates were at a high 17 per cent.”
reference: News Corp Australia Network