Summer Sales Sizzle on Sunshine Coast
Queensland’s new $15,000 First Home Owner Construction Grant (FHOCG) is helping many regional First Home Buyers enter the property market, says Carol King of Loan Market Maroochydore.
The Maroochydore broker said the FHOCG was introduced in October 2012 and since then her office has seen a 30 per cent uplift in First Home Buyer home loan approvals in the Sunshine Coast and surrounding suburbs.
Ms King said that the grant was not only helping many First Time Buyers; it was also helping support local builders and businesses who have all benefited from an increase in economic activity in the region.
“This is a great example of a government stimulus working well to add confidence and momentum into a flat market. This is has been a great initiative to help many purchase their first home,” Ms King said.
Ms King said the new FHOCG allowed people purchasing a new property for under $750,000 a savings of $15,000 and many lenders had specific products available for house and land packages.
“House and land packages are a bit more complex than your regular mortgage and do require additional consideration such as when your payments to the builder take place and if all possible inclusions are on the builders contract,” Ms King said.
“For many customers considering this type of purchase, the use of a mortgage broker can prove quite invaluable as they can negotiate and communicate between the banks and builders and make sure that you’re ultimately getting the home you’ve chosen.”
Ms King said that building times on the coast ranged from 12 to 24 weeks and that was a significant factor to buyers because of the timings of payments and if a buyer is having to pay rent during that period.
Ms King said the Sunshine Coast had several great land sales available through the areas of Brightwater, Aroona, Peregian, Bells Reach, Bli Bli and Noosa.
“We’ve seen a number of clients purchase properties in these areas as a direct result of this grant. There’s renewed confidence in the Sunshine Coast market with not only so many new first home buyers but a number of communities that are being developed that are really making the Sunny Coast a destination,” Ms King said.
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Mb: 0409 647 414 About Loan Market Maroochydore
Part of the Loan Market Australia network of 450 mortgage brokers, Loan Market Maroochydore was founded in 2012 and settle more than $90 million in home loans annually. The office is located in the heart of the Sunshine Coast and has been nationally recognized as one of the top broker groups in the country. Loan Market Maroochydore offers home and investment loan services from a panel of 30 different lenders across Australia.