Do any of these schemes actually work (ie, achieve what they’re intended to achieve)? If the goal is to make property ‘more affordable’ to first-home buyers, the reality is that the market adjust itself to absorb the benefits (if any). So who really benefits? The buyer – or the seller?
Australia’s leading national real estate body has expressed concern that newly announced first-home buyer incentives may not be of use to many of those looking to make their initial entry into the property market.