State Government cuts to infrastructure levies, for newly developed land, is another piece of good news for home buyers according to Frank Death CEO HomeWorld Display Village Kellyville.

“The good news comes on top of cuts in interest rates and the tripling of the first home buyers grant for new homes to $24,000.

“Although it may take at least 12 months for the infrastructure levy cuts to filter down through the system, it is still a good move by the government as it recognises that the levies were too high and made land much more expensive for families battling to buy a home.

“The housing industry has been advocating for the levies to be reduced for some years to improve housing affordability. If this move had come years ago, land would have been more affordable today. However, at least the government has finally conceded that action was needed to help home buyers in NSW due to the high cost of land and made the right move” said Frank Death.

“It’s a very good time for home buyers with the interest rates cuts, the first home buyers boost and builders ready to do deals. Although the levy cuts will take a while to take effect we are on the right track. Even petrol prices have come right back putting more money in the pockets of families.

“We have already seen a lift in the marketplace with all the fundamentals in place, including interest rates and strong demand for rental properties and a share market in tatters,” he added.