1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

Federal budget receives mixed reviews from residential property industry

May 10, 2012

The changes brought about in the 2012 Federal Budget have been met with mixed responses from the residential property and housing markets.

Some professionals have said that the latest financial planning efforts offer relief in certain sectors and welcome the moves as preludes to further changes, while others have stated they feel the program does not offer enough support.

In the first field, chief executive of Master Builders Australia (MBA) Wilhelm Harnisch explained that confidence was lacking in the construction industry but that the move to return the budget to surplus "should help the Reserve Bank find room to move further on interest rates".

Mr Harnisch asserted: "The move back to a budget surplus – albeit a slender $1.5 billion – sends the right message to international investors that Australia can run a disciplined fiscal strategy which in turn better positions the nation to withstand any further global shocks to the economy."

The CEO went on to say that the combination of tax concessions for businesses and family payment programs could also help to stimulate the economy - which in turn might help to grow demand for both residential real estate and new housing developments.

Related Articles

Residential growth refusing to slow

New details in residential housing growth mean the economy's strength will continue in the ...
read more

Former industrial precincts to become residential hubs

The New South Wales government has announced plans to turn two former industrial areas in north ...
read more

Perth city budget raises fees but aims to revitalise city

The City of Perth budget for 2014/15 was passed on June 25, setting the stage for the ...
read more

Latest Articles

How strong is the NSW property market?

When it comes to making a purchase in the property market, it seems hard to beat the strength of ...
read more

Building booms across many sectors

There are numerous indicators of strength in the housing industry, and one strong signal of future ...
read more

Cash rate at a standstill

One crucial driver of housing demand is the official cash rate from the Reserve Bank of ...
read more