Budget skims housing affordability issues

Budget skims housing affordability issues

Housing Affordability Issues: The Real Estate Institute of Australia (REIA) says there is nothing in Treasurer Wayne Swan’s Budget for first home buyers and say that numbers of first home buyers have plummeted since the First Home Buyer Boost was abolished.
“In May of 2009, 31.4% of all purchasers were first home buyers. The figure from March this year is 14.2%, well below the long term average of 20.2%,” the REIA said in a statement today.
The Professionals group echoed the national body’s sentiment about the first home buyers grant and we also believe it was unfortunate that a redress of property taxes, such as stamp duty once again failed to receive appropriate consideration in the Budget.
“We know there have to be hospitals and roads and schools. We all have to pay our taxes,” said Professionals group CEO, Ted Piteo, “However property carries more than its fair share of the taxation burden in South Australia. It is a huge impost on purchaser budgets when seeking to enter the property market and more needs to be done at both State and Federal level.”