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House prices up as greedy cash in on first homebuyer grant rise

Discussion in 'Real Estate' started by Simon Hampel, 18th Oct, 2008.

  1. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Sydney, Australia
    House prices up as greedy cash in on first homebuyer grant rise | NEWS.com.au

     
  2. Jacque

    Jacque Team InvestEd

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    Location:
    Sydney
    I can see vendors doing this, but only those who are ideally selling to the lower end ie properties up to $500K. It won't really affect the market above this, but time will tell.

    I spoke to a young fellow late last week who was all fired up and keen to go since the grant doubled. He was speaking to a broker, getting his deposit together and gearing up to buy as soon as possible. His thoughts: at his age (26) he and his mates were all seriously considering buying at least a unit in Sydney by June 2009- even if they moved in for the compulsory period and then rented it out, they looked upon it as an opportunity too good to pass up.