Government decisions influence every aspect of our lives, and it's important to take note when they affect our very ability to buy a house.
Purchasing property, whether for an owner-occupied residence or an investment, will likely be the most expensive transaction you ever encounter. That's why people take such care in deciding where to buy – what areas are the best, how will your family benefit, where is the public transport and the list goes on.
The Real Estate Institute of Western Australia (REIWA) is pushing for the State government to encourage a buyer's market over the next year, and people looking at real estate in Bunbury should see this favourably.
Particularly for first homebuyers, REIWA is calling for an end to recent increases in taxes on property purchases.
"The property market provides a regular, albeit fickle source of income for the State through property taxes but that's by no means a reason to further increase the costs involved in buying property to make up any shortfall," said REIWA president Hayden Groves.
"Increasing the costs, especially for first home buyers, will deter West Australians from entering the market. Keeping first home buyers active is crucial to bolstering the broader market and something the Government should prioritise when setting policy for the coming year."
As favourable conditions become available, there could be a noticeable increase in property purchases and more people may begin listing their homes in a bid to take advantage of the buyer's market.
Looking for real estate in Bunbury East on the back of the recent developments in the area? Keep your eyes peeled. Your dream patch of property in Bunbury might not be too far away.