The government’s plan to assist first-home buyers into their own homes has proved to be far more benign in terms of its economic and housing market impact than many had feared, although it still has its critics...
Sunday, August 3rd 2003, 6:23PM
by The Landlord
Graeme Woodley, president of the Real Estate Institute, who had vigorously opposed the introduction a a scheme similar to Australia’s where the government contributed lump sums towards a housing deposit, says he "applauds" the scheme.
"It will give some people the opportunity of getting into their first home" but it is unlikely to have the distorting impact on the housing market that an Australian-type scheme would have, he says.
The Australian scheme has been criticised as having added fuel to the already over-heated Australian housing market.
