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The federal government’s First Home Owner Grant (FHOG) extension is enticing prospective home buyers into the Tasmanian property market with the state recording its highest level of property sales in 18 months.
Almost 1,000 homes were sold around the state in April, the highest number since November 2007, the Real Estate Institute of Tasmania (REIT) has revealed.
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Sales were up 23 per cent in Launceston compared to the previous month while the north west region reported a sales increase of 18.4 per cent month-on-month.
“A lot of it is to do with first home buyers and the stimulus that is occurring now,” REIT president of the Peter Bushby said.
"Because of the low entry cost it is very possible for first home buyers to get in on the property purchase scenario as opposed to say Sydney where your entry cost is well over $500,000.
"Here you can be buying for probably as low as $150,000-$180,000,” he said.
The statistics were a welcome relief for the state which recorded a drop of 7.9 per cent in unit prices over the last 12 months, according to the official March 2009 Quarter Housing Data released earlier this month.
