17/06/2009 - 11:14

Home buyers encouraged to build instead

17/06/2009 - 11:14

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Two of the nation's leading housing associations along with 30 suppliers and builders have today launched a campaign in Western Australia, encouraging potential home buyers to build.

Home buyers encouraged to build instead

Two of the nation's leading housing associations along with 30 suppliers and builders have today launched a campaign in Western Australia, encouraging potential home buyers to build.

The "Build Now" campaign, spearheaded by the Housing Industry Association (HIA) and the Masters Builders Association, was launched by Housing Minister Troy Buswell.

The campaign is a bid by the housing sector to shake off the downturn at a time of historically low interest rates and declining property prices.

HIA executive director John Dastlik said the campaign was all about showing potential new home buyers that now was the best time to build.

"Housing interest rates are at record lows. When you combine low home loan interest rates with builders offering competitive deals, faster build times and the opportunity for good long term capital growth, it makes sense to build now," Mr Dastlik said.

"The economic downturn is showing signs of easing and the housing industry has a significant part to play in the recovery.

"One impact of the down turn has been the number of clients who have decided to put their dream of a new home on hold until the economy recovers.

"What we're saying is: look at the facts, now is a terrific time to enter the new home market.

"Whether you're building your first home or want to upgrade from your current home into a property that better suits your personal needs, now's a good climate to be making those decisions."

MBA director of housing Gavan Forster said the campaign was also aimed at the investor market.

"We know there are investors looking to build new properties," he said.

"Some are simply waiting for the right signs. As an industry we're saying the signs are already there with the latest housing investment lending figures confirming an upward trend.

"What we're saying is building now makes economic sense. There will never be a better time to build a new home."

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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