Daily Bulletin

Real Estate

  • 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/


The Conversation

Politics

Senator Canavan: Statement on Queensland Government's decision on Adani

I welcome the Queensland Government's announcement regarding timelines for Adani's approvals, but I don't thank them. The thanks go to the people of Central Queensland who have forced this outcome t...

Senator Canavan - avatar Senator Canavan

Australians reject Labor’s marine park lock outs

Australians have rejected Labor’s plans to return to their disastrous marine park lock outs policy. Assistant Minister for Agriculture and Water Resources Richard Colbeck said the strong result fo...

Senator Colbeck - avatar Senator Colbeck

Alan Jones interview with Scott Morrison after the election win

ALAN JONES: Prime Minister good morning. PRIME MINISTER: Good morning Alan, how are you? JONES: Listen, you might have got up on Saturday, but the team didn’t. [Laughter] PRIME MINISTER: Well, e...

Scott Morrison - avatar Scott Morrison

Business News

How To Protect Your Industry From Hazardous Material

Some industries regularly generate significant amount of hazardous dust and other contaminants. When this is the case, you must focus on finding a suitable industrial vacuum to ensure that people work...

News Company - avatar News Company

Advice For Running A New Business

Taking on the responsibility of running a new business can be extremely satisfying and also very nerve-wracking all at the same time. Officially opening up for business and starting to sell your pro...

News Company - avatar News Company

Essential Tips for Successfully Shipping Products to Indonesia

As an Australian business owner who has their sights set on expanding operations this year, it makes sense to look into the potential for tapping into the Indonesian market. With a vibrant economy, ...

Toby Edwards - avatar Toby Edwards

Travel

5 Cities in England That Should Be on Your List

England is a beautiful and rich country. It has a great history and one of the most important people of our time are from this majestic country. Breathtaking landscapes, magnificent architecture, and ...

Goran Kezić - avatar Goran Kezić

Top 3 Reasons to Visit a Wellness Retreat in Bali

If you’re looking for beauty, relaxation and recuperation, Bali could be the destination for you. In fact, it’s so magical, it’s known as the Island of the Gods. Just looking at its crystal clear wa...

News Company - avatar News Company

7 Ultimate Things to do in Australia

Australia is a beautiful and great tourist destination. It rightfully fits the description of an adventure playground being home to a wide variety of activities and attractions for all ages and ta...

News Company - avatar News Company

ShowPo