Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

FHOG inflates property market: MFAA

Staff Reporter 3 minute read

Almost one in five Australians believe the government’s First Home Owners Grant has been counter-productive and artificially inflated the market, the Bankwest / Mortgage and Finance Association of Australia (MFAA) Home Finance Index has found.

According to the Index, 17.6 per cent of respondents said the grants had caused house prices to go up while 13.9 per cent said they would wait until the grant had finished before taking the property plunge.

MFAA chief executive officer Phil Naylor said despite the significant cash grants and stamp duty relief, six out of ten respondents feel the government is not doing enough to help first time buyers.

“While governments are providing cash relief for first time buyers, there are arguably issues relating to housing supply that would be influence this perception,” Mr Naylor said.

Advertisement
Advertisement

Mr Naylor said that when asked whether the decision to extend the grant influenced their decision of whether to buy a home, 39.4 per cent of respondents agreed. Only about one in five said that they were more likely to buy a home as a result of the extension.

“It can be tough getting into the housing market, particularly in expensive capital cities, and first time buyers are exploring a range of options to overcome this,” he said.

FHOG inflates property market: MFAA
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
Renee blethyn NextGen.Net appoints head of broker

NextGen.Net has appointed its inaugural national head of broker ...

BBS Summit 2021 ta Better Business Summit and Awards Sydney postponed

Due to the ongoing COVID-19 resurgence in Sydney, the NSW leg of ...

Andrew Moulds Darren Smith ta Lend adds FleetPartners to platform

Lend has integrated vehicle fleet leasing and fleet management pr...