Christmas in July in Ipswich
It was Christmas in July in Ipswich this year with the stamp duty cuts certainly delivering some welcome gifts. Buyer interest has increased significantly since the removal of the $7,000 government stamp duty. REIQ Ipswich zone chairman, Darren Boettcher, said properties that had received little interest prior to the cuts were now being courted by several interested parties. “Once the lower end of the market has been bought up there is going to be a lot more demand and these prices may not be repeated,” he said.
“What we have got is a flood of cheaper properties on the market. It’s going to be a slow and gradual recovery with the stamp duty concession now in place.” Real estate agents are also saying that activity has improved and things are looking good. They say there are plenty of reasons to be positive at the moment about the cuts and the results they will bring, including potential new home loan applications.