The Housing Industry Association (HIA) has attacked the NSW Budget’s first home buyer (FHB) bribe for failing to do enough to stimulate new home construction. From The AFR:
Shane Garrett, senior economist for the Housing Industry Association, said the NSW budget to be handed down on Tuesday will cut a $5000 grant to buyers of new homes and this would reduce incentives to increase housing supply, the only long-term solution to Sydney’s housing affordability crisis. “Cutting grants to new homes will tend to reduce supply,” Mr Garrett said…
