9 May 2008
First home buyers cannot be sure of what the Federal Budget has in store for them, and it looks like it could be bad either way. A conservative Budget could help to keep interest rates in control, and a tough Budget has been promised by Treasurer Wayne Swan. Extra financial help would have to be minimal in this case, however, as too many benefits could contribute to the glut of first home buyers. The fact that banks and other lenders have already had to become more wary when approving home loans could worsen and lead to many potential first home buyers being turned away for the moment. A generous budget would merely push inflation higher, putting pressure on existing first home buyers as well as those looking to enter the market.
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