There’s never been a better time to buy a new home according to HomeWorld Display Village CEO, Frank Death.

“There are a number of factors that have come together to make it very attractive to make the move, right now to buy a new home. It’s no secret that rents for suitable properties across Sydney have skyrocketed and they are expected to keep moving up, due to demand in excess of supply. It means that rents are getting closer to what they might pay for a mortgage.

“Land at affordable prices is now freely available in the metropolitan area. This is a huge improvement on the situation where there was an acute shortage of land and, any land coming onto the market was priced accordingly.

“Now home buyers can buy land in areas such as Mt. Annan and surrounding areas from $200,000 and at Ropes Crossing from $217,000. at Greenway Views, Hoxton Park land is available from $265,000 and at The Ponds, a short distance to the new Rouse Hill Town Centre, quality level land is available from $265,00,” said Frank Death.

“In the Mt.Annan area there are home and land packages from $399,000 while at Ropes Crossing these packages start from $390,000. This is really good news for families wanting to achieve their goal of home ownership.

“When you realise that you can buy a new home at HomeWorld from $125,000 and add the cost of a block of land at $200,000 it is certainly possible to have a brand new home from $325,000 to $350,000 allowing for some costs to be included. First home buyers who are eligible for the First Home Buyers Grant of $7,000 also enjoy stamp duty exemption up to

$500, 000,” Frank added.

Many HomeWorld builders have attractive offers included in their prices and there is real flexibility in the designs to suit individual lifestyles. “Buying a home will be the biggest investment in most families’ lifetimes but it puts you on track to build your wealth in the long term. It also means that you have more control over your future and you are not caught in the rental spiral.”

Market conditions are also conducive to investors coming back into the new home market particularly with the turmoil in the share market. Frank Death says that the high demand for rental properties is providing increased rental returns and opportunities for possible capital gains.

“The home and land packages we have listed are also attractive for investors and offer a low cost entry into the property market. The properties are new and do not require renovations or major repairs. Property investors also have negative gearing as a further incentive and property is good for diversification from the share market.

“The Federal Government is also introducing a National Rental Affordability Scheme to commence on 1 July 2008. The scheme offers incentives for ten years if the investment property is rented to low and moderate households at 20 per cent below market rates.

“A Federal Government incentive of $6,000 per year for ten years will apply and this will be backed up by a $2,000 per year incentive in direct or in kind financial. This is a further incentive that will suit some property investors” Death continued.

“At HomeWorld we think the time is right for buying a new home when all the positives are taken into consideration”.