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First homebuyers keep buying

09 Sep, 2009 10:29 AM
FIRST homebuyers are driving Bunbury’s housing market stocks down one third on average figures after experiencing a steady four to six months.

Local real estate agent and Real Estate Institute of WA spokeswoman Roslyn Ierace said the region’s property sector has been buzzing along in recent months and she expected it to continue through to December.

Bunbury remains the number one regional centre in Western Australia for regional growth, experiencing 18.4 per cent growth in the last financial year.

Ms Ierace said first homebuyers have been keen to get a hold of properties before the Federal Government grants shrink in value at the end of the month.

That, coupled with recent market changes, has led to a more than 30 per cent drop in houses on the market.

Normally around this time of year 1500 to 2000 houses would be on the greater Bunbury market.

This year it is 1000 to 1200.

“It’s been like that since February or March,” Ms Ierace said.

She said there were also more genuine sellers, which had led to less houses with the for sale sign out front.

“The people on the market are on there for a reason, they want to sell, which is great,” Ms Ierace said.

Which Ms Ierace said it had created a fairer market for all.

Until the end of September first homebuyers can get grants worth $14,000 for established homes and $21,000 to build or move into a brand new one.

From October the amounts will shrink to $10,500 and $17,500 respectively.

“There are plenty of first homebuyers still saving and planning on buying and that should stay through to December,” Ms Ierace said.

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