The Real Estate Institute of Australia (REIA) has welcomed the Australian government's proposals to increase the flexibility of First Home Saver Accounts.
This initiative was first introduced to help buyers to save for an Australian property through both government contributions and low taxes.
A draft of legislation relating to increasing the flexibility of First Home Saver Accounts has been released by the treasurer for public consultation.
"REIA welcomes the opportunity to be involved in matters that affect the property market, in particular, assisting first home buyers to achieve the goal of owning their own home," said REIA president David Airey.
He went on to say that the proposed changes will not directly affect housing affordability, but they will allow first time buyers a degree of flexibility when it comes to purchasing their chosen property.
Those not buying their first home, but investing in another property in Australia, were recently advised by Gavin Hegney of Hegney Property Group to keep an eye on the Australian Bureau of Statistics' Mobility Survey.
He told API Magazine that doing so will give them an idea of where the country's property hotspots are and will be in the near future.
Posted by Steve Douglas
