First Home Owners Grant Extended

FHOG  for both new and existing homes extended and an introduction to phase the Boost out gradually. The Commonwealth Government has made an accurate and overall assessment of the property market in their decision to extend the FHOG Boost for six more months, however, it will only continue at the full rate until 30 September 2009.

From October until December 2009 the FHOG Boost will be reduced from $14,000 to $10,500 for established homes and from $21,000 to $14,000 for newly constructed homes.

This decision will benefit the property industry greatly and have tremendous flow-on effects to those in the business of servicing the property industry such as solicitors, conveyancers, financiers, valuers, removalists, furniture suppliers and a range of trade’s people.

Source: Real Estate Institute of Australia

Real Estate Agents & Privacy

Privacy Awareness Week (3-9 May 2009) – The Office of the Privacy Commissioner will be releasing a set of ‘Frequently Asked Questions’ (FAQ’s) by consumers relating to real estate agents, property managers and landlords.

The aim of the FAQ’s is to provide a reference for individuals regarding the handling of personal information by agents. The matters covered will be available at www.privacyawarenessweek.org and will cover the type of information which may be collected from individuals, how the information may be disclosed, how individuals can access their information and what residential tenancy database collections do and what privacy obligations they have. Read the rest »

First Home Owner’s Grant

Australia’s Prime Minister Kevin Rudd said “The First Home Owner’s Grant Boost as you know we’ve indicated that that will conclude within a very fixed and finite time frame.”  “We’re still measuring the full effect but I think it’s very important that as a community we understand that deadlines are imposed for a particular purpose. It’s had strong, useful results so far but I’ve got to say, all good things must come to an end”

There has been no formal decision made on whether or not the FHOG Boost will be extended beyond 30 June 2009.

Source: Real Estate Institute of Australia