The WA State Government needs to consider both the new and the established markets when considering the introduction of a new assistance package, according to RE/MAX Managing Director, Geoff Baldwin.
“The Premier is currently being lobbied by builders for a significant boost package specifically for new first home buyers however an incentive for all first home buyers in both the new and the established sectors would be a much fairer and more sensible option.
“There is no argument that the new home market is suffering however, with a record 21,000 established properties on the market it’s fairly obvious that it is not only builders who need a lift”, he said.
“The WA property market has been battling along for almost 3 years however, since the withdrawal of the first home owner boost and with repeated interest rate hikes, the past 12 months have been diabolical.
“The real estate industry in Western Australia employs thousands of people, in sales, administration, property management and support roles plus indirectly through its use of settlement agents, pest control companies, removalists however recent months have seen staff reductions across the board.
“Many first home buyers prefer to buy an established property so, although no one would argue about a boost for new home buyers, established buyers should not be discriminated against with any state government assistance package.
“Care should be taken by the government to avoid the market becoming unbalanced by assisting one industry at the detriment of the other”, Mr Baldwin said.