Bring back first home grant: Real estate agent

p2214-Justin-O'BrienBy ERWIN CHLANDA

 

A prominent Alice Springs real estate agent says the NT Government should reinstate the first home owners grant for existing homes.

 

Justin O’Brien (pictured), of Elders Real Estate, says after the grant was discontinued on December 31, sales in the town have dropped by about half when compared to the same period last year.

 

Mr O’Brien says the grant for existing homes was $25,000, and even a partial reinstatement would help.

 

Only the grant $26,000 grant for new homes is continuing.

 

p2214-home-sales-tableMr O’Brien says another reason for the decline of sales may have be a very buoyant last quarter of 2014 (see table).

 

We have asked Treasurer Dave Tollner for access to the NT Land and Property Transfer Report so we can compare the number of sales since January 1 with the corresponding period last year.

 

We will post the details when and if they have been provided.

 

Observers say limiting the grants to new dwellings is favouring developers and builders, who now have an incentive of raising the prices of homes they are producing.

 

The move is disadvantaging vendors of existing homes and first home buyers, observers say.

 

 

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4 Comments (starting with the most recent)

NB: If you want to reply to a previous comment, start your comment with this notation: @n where n is the number of the comment you want to reply to.
  1. Fred
    Posted March 8, 2015 at 3:57 pm

    Looking at the statistics there is good money in real estate.

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  2. GBC
    Posted February 25, 2015 at 2:24 pm

    Should never have been brought in originally, just puts the houses up by the amount of the grant.

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  3. Steve
    Posted February 22, 2015 at 11:55 am

    There shouldn’t be a first home owners grant at all. All it has ever done is increase the price by the respective level of the grant therefore adding to the commission paid to the real estate agent.
    Which might be why they are all calling for it to be re-instated.
    How shallow of me to think that real estate agents are only in for themselves.

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  4. Bronte Zadow
    Posted February 21, 2015 at 8:12 am

    As a leading Landmark real estate agent once told me you can sell anything if the price is right. Let the market find its true value.

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