If you're buying established real estate in Bunbury, then you'll no longer be able to receive a first home owner grant (FHOG) from the Western Australian government. The funding was abolished earlier this month as part of the state budget for the coming financial year, a move which was criticised by the Real Estate Institute of Western Australia (REIWA).
Deputy president Hayden Groves believes it will put anyone who wants to buy an existing property at a disadvantage, as they'll no longer be able to receive $3,000 in financial assistance.
"This skew towards new builds is creating an imbalance in the housing market and pushing a lot of first home buyers to the urban fringes, which actually works against the government's own urban infill policy," Mr Groves noted.
However, REIWA urged anyone thinking of entering the property market to not be deterred. Listing numbers are on the rise throughout the state, meaning now could be a good time to buy if you've been holding back.
The FHOG for new builds is still available, giving you the opportunity to receive up to $10,000 in help towards your new property. With building levels increasing across the nation, there's unlikely to be a shortage of real estate for you to take a look at.
It could be worthwhile enlisting the help of an experienced real estate agent in Bunbury. With the market so active at the moment, narrowing down your options might not be the easiest of tasks, but with an expert on your side, the process could be much easier.
Speak to the team at Ray White Bunbury now to find out more about the local area and what property is available to suit your requirements.