Browse Forums Building A New House Re: Do you think the 21k First home buyers offer will come back? 3Mar 04, 2009 8:19 pm is it a case that when you increase funds available to the consumer you end up increasing the price demanded by the seller?
personally I think that the FHOG is a false stimulas - I throws money at a small sector of the market. The funds would be better given straight to govt if the removal of stamp duty was the offset (IMO). ’’Quondo Omni Flunkus Mortati ’’ If the women don't find you handsome, they should at least find you handy. Stila BK1 Build Thread The best place to talk about sport Re: Do you think the 21k First home buyers offer will come back? 4Mar 04, 2009 10:24 pm YES, I do... 99% it will stay. "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 First Home Owners Grant $21000 5Mar 05, 2009 2:05 am I started getting phone calls to ask me this very question.
If it stays, I think it will be more to reduce the housing shortage that we have in Australia and to stop the increases in rent (thus focus on new homes). A lot of our pre approved customers in 2009 have been commenting that they can't find anything in the sub $400,000 price range. Building more homes will help reduce the competition for existing housing. Re: First Home Owners Grant $21000 6Mar 05, 2009 7:05 am All depends on what the next few months worth of building approval figures show. Those who want to take up the grant, who are building, are only just starting to get themselves through the approval process now which can be seen with the last lot of approval figures.
This will be just in time for the May federal budget. Stevep79 & Principessa Finished building Wisdom Homes Impression 33mkII in The Ponds, Sydney http://lilypadintheponds.blogspot.com Re: Do you think the 21k First home buyers offer will come back? 7Mar 05, 2009 7:49 am I do know that the construction union plus big property developers are lobbying fed govt for an extension After 4 years - we're in! Re: Do you think the 21k First home buyers offer will come back? 8Mar 05, 2009 8:11 am ^^ Ofcourse they are, it generates more work for them.
It makes it far easier for people to get in the market. And having a higher grant for builders is a very good idea, because it helps relieve allot of the pressure on the market as they are pumping out new houses and land like crazy Re: Do you think the 21k First home buyers offer will come back? 9Mar 05, 2009 8:52 am If it goes I can see a huge dip in home values across the country, even if only from the psychological factor of First Home Buyers leaving the market. Re: Do you think the 21k First home buyers offer will come back? 10Mar 05, 2009 9:58 am The Government has been splashing out huge amounts of cash in order to stimulate the economy.
Extending the grant is seen as stimulating the economy, as long as the goverment can afford it, I too think that it is 99% likely and VERY responsible to do so. New houses = contruction jobs, retail jobs (white goods, electricals etc).. Re: Do you think the 21k First home buyers offer will come back? 12Mar 05, 2009 10:26 am The government will have to try something to boost house sales now that the major banks are really starting to tighten their lending criteria. People who were relying on 100% loans until they could get their grant now can't get those and even 95% loans are under threat. This will force out the first home buyers who have adequate income to support repayments but have short term cash flow problems.
Will be interesting to see what the sales data for the second half of the calendar year bring, especially toward Oct-Nov. Stevep79 & Principessa Finished building Wisdom Homes Impression 33mkII in The Ponds, Sydney http://lilypadintheponds.blogspot.com No deposit home loans 13Mar 05, 2009 10:41 am The lenders will re-assess the demand for certain high lend products when the $21000 first home owners grant (boost) and the $3000 nsw supplement finishes. That may coincide with a change in economic outlook.
Companies are always keen to offer products to unmet demand, and this is one niche lenders can't ignore. High lend customers stick with their lender for a much longer period than those borrowers who saved a reasonable deposit. Re: No deposit home loans 14Mar 05, 2009 10:56 am thlo The lenders will re-assess the demand for certain high lend products when the $21000 first home owners grant (boost) and the $3000 nsw supplement finishes. That may coincide with a change in economic outlook. Companies are always keen to offer products to unmet demand, and this is one niche lenders can't ignore. High lend customers stick with their lender for a much longer period than those borrowers who saved a reasonable deposit. You say they are keen to offer products to unmet demand but we are seeing that the banks are having to change conditions to get them away from this unmet demand even though demand is at its peak right now. There are bigger factors than dmand driving the decision not to offer high lend products. The decision of what % to allow will be the result of extensive risk assessment, part of which would have deduced that high lend products not only have a greater chance of default but in the current environment, the risk is very high that they wouldn't be able to recover all outstanding funds where the LVR is greater than 90%. At least when the LVR is down to 90% they have 10% to play with when it comes to recovering their money at sale. The banks would also be getting pushed by the mortgage insurers, saying they would no longer insure 100% LVR mortgages. There is also pressure in the greater community to crack down on the availability of credit. This covers credit cards, mortgages, personal loans, etc. Stevep79 & Principessa Finished building Wisdom Homes Impression 33mkII in The Ponds, Sydney http://lilypadintheponds.blogspot.com Re: Do you think the 21k First home buyers offer will come back? 15Mar 05, 2009 11:02 am Exactly.. The credit crunch, and GFC! was caused by bad lending.
Our banks do not want to fall into the same trap.. Already the banks have reduced their LVR, dropped mortgage insurance, and are bracing for declining property prices. It would be suicidal for the banks to change their stance, jobs will go over the course of this year and property prices will fall. Lets just hope we can all hang in there.. It is going to be a bumpy ride. Re: No deposit home loans 16Mar 05, 2009 11:45 am stevep79 thlo The lenders will re-assess the demand for certain high lend products when the $21000 first home owners grant (boost) and the $3000 nsw supplement finishes. That may coincide with a change in economic outlook. Companies are always keen to offer products to unmet demand, and this is one niche lenders can't ignore. High lend customers stick with their lender for a much longer period than those borrowers who saved a reasonable deposit. You say they are keen to offer products to unmet demand but we are seeing that the banks are having to change conditions to get them away from this unmet demand even though demand is at its peak right now. There are bigger factors than dmand driving the decision not to offer high lend products. OK I am going to have to be literal now. As I said "The lenders will re-assess the demand for certain high lend products when the $21000 first home owners grant (boost) and the $3000 nsw supplement finishes.", which means at the moment the extra support from our governments are helping to meeting the demand, so there is hardly any unmet demand from first home buyers at the moment. First Home Buyers can pretty much all get enough finance and government grants to buy a reasonably priced home (of course if they meet the criteria, have jobs, income, good credit history, not many liabilities etc, etc). When the government assistance runs out (leading to a gap in the market where some aspiring first home buyers will be short, thus unmet demand), I am willing to bet that within 3 months you will see at least one lender come back with an improved No Deposit Home Loan to what is currently on offer. When they do, it will be because they have the funds and the mortgage insurance company on their side. BTW - The credit crunch was caused by bad lending decisions in the USA not here! Hi Would anyone have the copy of cashback offer AllCastle had for end of 2023? They are saying there is no such thing it’s not in your tender unfortunately I’d do not… 0 118 No. It's not original. Circa early to mid 90s would be my guess and maybe even as late as early 2000s 1 6631 My land is 260m2 (10m x 26m) located in claymore NSW. Under campbelltown council. I know in general the following setbacks would apply ground floor side setback =… 0 6919 |