The Federal Government’s HomeBuilder Grant looks set to help stimulate our economy, with the looming December deadline to sign with a builder causing many to leap feet first into home ownership.
Wealthi’s co-founder Domenic Nesci has pinpointed the areas most likely to see a boom in production.
“Western Sydney is perfectly placed to benefit from the incentives, new investments in infrastructure and natural population growth,” Mr Nesci explains, singling out areas such as Cobbitty, Leppington, Penrith, St Marys and Westmead.
Cobbitty in particular has had a recent 95.3 per cent growth in population, with an average house price of $725,000.
The area is 80 per cent owner-occupied, suggesting that it’s likely to be first-home buyers, or those wishing to move further west from the city who will capitalise on the scheme.
Conversely, what Nesci calls “the inner doughnut” of Melbourne, the less dense areas within 10km of the CBD, is signposted for similar growth.
“Suburbs like Fitzroy North, Heidelberg and Essendon are positioned well to blow up with the HomeBuilder Grant.”
Mr Nesci notes that the government incentives heavily favour brand new properties, therefore he stresses the need for potential buyers to do thorough research, and to stick with trusted companies that have a proven track record.
