Changes expected for SA housing market
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First home owners grant expected to have immediate impact on the SA market. (ABC News: Giulio Saggin)
An Adelaide real estate agent says the increase to the first home owners grant will have an immediate impact on the South Australian market.
The federal government this week doubled the grant for existing homes and tripled the grant for new homes.
Local agent Anthony Toop says the market will react as early as this weekend.
"In the first home buyers market we're expecting to see substantial increase in the activity, primarily because of the amount of dollars involved and secondly the time frame," he said.
"That 30th of June sunset clause and it's all over for first home buyers for those dollars."
Mr Toop says the increased grant will help to mitigate a fall in home prices, rather than push them up.
"I just see this very much as a stabilisation of the market, the extra input or the extra activity through the first home buyers will just simply put a net underneath what was proving or looking like a real slippage in price," he said.
