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James

James

Real estate , NSW

NSW: First homebuyers in Western Australia have been the big winners from the federal government’s HomeBuilder scheme

4D ago 0 Replies 17 Views
First homebuyers in Western Australia have been the big winners from the federal government’s HomeBuilder scheme, but the impact has been muted in the other major states.
Sales data from the Housing Industry Association revealed new home sales over the seven months since the pandemic started were 11.8 per cent higher nationally than over the same period last year.

New home sales in Western Australia over the seven months to September were nearly double the corresponding period in 2019, while in Queensland the increase was about 7 per cent.
NSW sales increased about 3 per cent, while in South Australia it was 0.5 per cent.

The price caps may explain the different levels of uptake in various states, considering there were fewer new homes available for under that price in NSW and Victoria.
The majority of new Sydney homes priced under $750,000 were apartments more than 20km from the CBD or were house and land packages at least 40km from the CBD.

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