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Publish date: 01-10-2009 23:39:36 | Contact Name: Peter | 165 times displayed
As part of the stimulus package applied by the Australian Federal government to aid the recovery of the national economy from the Global financial crisis the first home buyers grants have been doubled for existing properties and even trippled for new developments.
Now these real estate related stimulus incentives are being scaled back to the pre crisis level the question is whether the property market in Australia will suffer or not. Many critics claimed that the current growth on the Australian Real Estate market is to be labelled as a first home buyer bubble due to the impact of the stimulus package.
However recent figures show that the bottom 20% of the property market are actually underperforming compared to the most expensive suburbs as well as the middle class properties. Given the fact that most first home owners will enter the lower end of the market it is questionable whether we can talk about a first home owner buyer bubble.
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