Are buyers retreating from a burgeoning market?
By Cameron Micallef
18 May 2021
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1 minute read
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The property market is continuing to go from strength to strength, but future buying intentions for Australians vary, according to new survey data.
Data released by Commonwealth Bank showed that Australians are still eager to get into the market despite rising house prices, which it tips will continue to swell on the back of the recent federal budget.
The market recently broke an 18-year record for house price growth, but it appears not to be slowing, at least based on home buying intentions, which added strength in April. Both home loan applications and Google searches increased in April as the national real estate market attracted a large number of prospective buyers.
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Vic to be hit with stamp duty, land tax hike By Malavika Santhebennur 18 May 2021
The Victorian budget will include $2.7 billion in new property taxes, including a new “premium” stamp duty rate for property transactions over $2 million, the state treasurer said.
The Daniel Andrews Labor government has announced that the Victorian budget 2021-22 (due to be handed down on Thursday, 20 May) will contain “targeted measures” worth $2.7 billion, including new stamp duty taxes for home buyers and property taxes for investors.
The announcement of the measures has come at a time when the federal government introduced measures such as the HomeBuilder package and the First Home Loan Deposit Scheme (FHLDS) New Home Guarantee to address housing affordability issues in Australia, and provide stimulus measures during
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Two leading property analysts have serious questions about the amount of debt accumulation linked to the federal government's home deposit budget initiatives.