Thursday, May 14, 2009

Prediction: optimistic future and an amazing fast turnaround

Tuesday’s Budget predicts an optimistic future and an amazing fast turnaround. It seems the Government have also adopted the “Reject the Recession” movement.
Economic Growth- Negative GDP of -0.5% for 2009-10, 2.25 % at 2010-11 and 4.5% in 2011-12 and 2012-13

Unemployment- Expected at 8.25% for 2009-10, 8.5% for 2010-11 and 7.5% for 2011-12
Irrespective of your own thoughts, the reality of this week is that the First Home Owners Boost stimulus remains but will be phased out... great decision! This is a great outcome, and will avoid any shock waves through that part of the market.

Common sense prevailed in the first home area; the announced process will assist in assuring a soft landing in the affordable end of the property market, which has been in full boom for the past 6 months. The surge predicted leading into the June 30th deadline has been headed off... very good.

“The Budget showed good judgement in the treatment of the First Home Owners Boost but our biggest concern for home sellers is the flood of properties expected in Spring. Learn from Spring 2008 - Sell in winter for better prices and faster sales.”

First Home buyers should relax and do their homework. Smart money is starting to go into places that have seen no Owners Boost price rises. A classic example is Victor Harbor. Our Victor Office reports some amazing opportunities for buying in the first home range. Commuting is easy while the lifestyle enjoyed is amazing. Near city country locations offer incredible opportunities to first home buyers, and awesome lifestyles for young families. These are areas that can now be considered, our BEST BUYS.

There is going to be a lot of property news for people so be sure to sign up for InsideStory. We post all the latest reports, get the Inside information in full including the latest RP Data reports, CommSec and pretty much everything that impacts property owners.

Anthony Toop, Managing Director.

© Toop Real Estate Group

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