18
Mar
Government 'to help property in budget'
The government is likely to introduce a range of measures in next
month's Budget to help the property market, it has been
predicted.
Editor of Property Investor News Richard Bowser said that the
process of trying to improve matters through interest rate cuts is
"pretty much done" and that other measures will now follow.
He stated: "It is likely that from a fiscal point of view, for a
year or two, the government will announce in the Budget a whole
series of incentives."
This will be part of a concerted effort to improve the housing
market, Mr Bowser added.
Such moves may help improve the prospects for first-time buyers
looking to get on the housing ladder.
One possible fiscal incentive could be a measure to ease the stamp
duty burden on purchasers.
Earlier this month, the Association of Mortgage Intermediaries
called for the levy to be scrapped on all residential
property.
