..

Real Estate

First home buyers are failing to join Western Australia’s housing market

  • Written by Adam Santarossa



FIVE MILLION DOLLARS TO FIX HOUSING AFFORDABILITY  

 

First home buyers are failing to join Western Australia’s housing market and a leading home expert has come up with a simple solution to solve the problem.

 

Managing Director of Gemmill Homes, Craig Gemmill says it is time the Western Australian government looked seriously at housing affordability for first home buyers, handing them a readymade plan to kickstart sales once again.

 

A recent Cordell Housing report showed that Western Australia currently averages 674 detached housing applications per month, with first home buyers making up only 120 of that figure.

 

First home buyers equate to around just 17 per cent of the current market, and Gemmill has laid out a solution to increase that figure.

 

“Let’s set a target of 1000 first home buyers over the next six months” Mr Gemmill said.

 

“First home buyers are not a huge part of the market and we need to find a way to get them to come back into the market.”

 

Gemmill’s plan is for the government to provide 1000 first home buyers with an extra $5000 grant to ease issues of housing affordability.

 

This approach would cost the West Australian government just an additional five million dollars, in a time where they’re posting a $1.3 billion budgetary surplus. 

 

The boost to the real estate market, would also see the plan just about pay for itself as well.

 

“Five million dollars is not a lot of money in the current scheme of things,” Mr Gemmill said.

 

“A figure like this is offset too by the work that it would create, not to mention things like income tax, and the payroll tax people are going to pay, as a result of the industry uplift.

 

“We understand the governments budgetary constraints, but let’s put a figure on it, we’re going to do 1000 homes and cap it there.”

 

Gemmill met with WA Housing Minister Peter Tinley before Christmas to discuss the current housing market.

 

Now Gemmill Homes are taking action themselves, by handing a $5000 boost to first home buyers anyway.

 

“We are offering all our first home owners a boost to the grant, of $5000, on our Goodlife Homes range (subject to approval)” Mr Gemmill explained. 

 

“We’ve been asking the government and we’ve been talking about it, now we’re putting our money where our mouth is, to help these first home buyers get into a new home.”

 

While first home buyers traditionally move away from building new homes, the proof is there that it can yield better results and provide more bang for your buck.

 

“Building is the only option that will give you a totally customised house that no one has lived in,” Gemmill said. 

 

“All your costs are done upfront. If you buy an established property, you don’t know what you have to improve, or fix on it. So, there’s a big unknown there.

 

“Perth has a real oversupply of apartments and a new home can be much more cost effective. 

 

“For an example, there’re two properties in Ashby on the market right now. One is eleven years old, three by two with a single garage, at $389,000.

 

“The other is brand new build for $399,000 and you can get $10,000, which is from the first home owners grant.

 

“It shows there’s so much potential out there for first home buyers.”

 

For more information on Gemmill Homes, visit - https://gemmill.com.au/

Politics

Prime Minister interview with Alan Jones

Good morning Alan.   ALAN JONES: Thank you for your time. Could I just begin by saying that politicians rarely get praise. I have been speaking to farmers during the course of the weekend. You wen...

Alan Jones - avatar Alan Jones

Scott Morrison on Shorten's Border Protection backdown

Border Protection   PRIME MINISTER: Less than 24 hours ago, I warned Australia that Bill Shorten would make Australia weaker and the Labor Party would weaken our border protection. That they could...

Scott Morrison - avatar Scott Morrison

Funding to support women and children escaping domestic violence

Hundreds more women and children escaping domestic and family violence will have a safe place to sleep with a $78 million investment by the Morrison Government.   This investment includes a $60 mi...

Scott Morrison - avatar Scott Morrison

Business News

Sharing the Load - A Guide to Outsourcing as an SME

As a small and medium-size enterprize you need to be able to keep pace with changing technologies and stay ahead of the game. Generally, this means there is a definite need to outsource your SME’s I...

News Company - avatar News Company

Why Branding is vital to your family owned business

Once available only to large corporations, branding is now more accessible and vitally important to every size (and type) of family business, including yours. But what is branding and how does it ...

Stella Gianotto - avatar Stella Gianotto

Statewide Super announce Tony D’Alessandro as CEO

Tony D’Alessandro Tony D’Alessandro will be the new Chief Executive Officer of Statewide Super, effective 1 March 2019. Mr D’Alessandro will replace Richard Nunn, who in January announced his ...

Media Release Service - avatar Media Release Service

Travel

Older generation Australians are embracing solo travel

Allianz predicts a rise in solo travel in 2019, revealing those most likely to ‘go -it-alone’ among the 50+ age group   The popular ‘solo travel’ trend is predicted to continue in 2019 with mor...

Media Release - avatar Media Release

Fun Things You Must Do In Perth

Perth: Sun, sand and 19 beaches might seem to sum up the city, but not quite. The sunniest capital city in Australia offers so much more for you to do. Regardless of what your idea of fun is, you wi...

News Company - avatar News Company

ex-HMAS Tobruk dive site Fraser Coast

Fraser Coast Has a New Sunken Treasure for Divers to Explore A rush of scuba divers from around Australia is expected to begin exploring the underwater wonderland created by the ex-HMAS Tobruk after...

Tracey Joynson - avatar Tracey Joynson

You might also like