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Property News

First home buyers urged to act fast

June 06, 2012

If first home buyers want to make the most of the latest cut to the cash rate, they are going to have to move fast, the ABN Group has emphasised.

Welcoming yesterday's decision (June 5), Victorian managing director Aiden Hooper said that the best thing buyers can do is get the ball rolling before June 30.

He pointed out that over the next three weeks, affordability will be about the best it has ever been for anyone hoping to get their hands on residential property.

“Not only will the fall in official interest rates to 3.5 per cent lower mortgage repayments, but the chance to qualify for a $13,000 first home bonus, as well as the additional $6,500 regional bonus finish on June 30," Mr Hooper emphasised.

In recent days, the Ministerial Advisory Council offered a number of suggestions on how to improve the planning system in Victoria, by making it simpler and more beneficial to the economy by reducing red tape.

The Property Council of Victoria noted that a complex planning system only creates a burden to businesses and the community.


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