Federal Budget comments from PIPA chairman Peter Koulizos
- Written by Peter Koulizos
There was plenty of good news in the Federal Budget – although it would have been nice to see the property sector further stimulated, including the extension of the successful HomeBuilder program into next year.
The HomeBuilder scheme did a lot of the heavy lifting for the property and construction sectors this year, so it would have been great to see the program run for longer than just six months to further underpin employment.
The job creation initiatives and tax cuts announced will certainly support the property market, including helping young people not only stay in their rental properties but also move into home ownership if they have secure employment.
The additional 10,000 places in the First Home Loan Deposit Scheme will also enable more prospective home buyers achieve their property ownership dreams.
Fundamentally, the economic stimulus measures announced in the Federal Budget will further support property markets and help to protect the wealth creation efforts of all Australians.
