Brokers' Budget response

by Mackenzie McCarty15 May 2013
“The Budget’s housing centrepiece is a $112 million trial program to assist the elderly to downsize their homes without affecting pensions, via a means test exemption of up to $200,000 for ten years. It is designed to remove the disincentive for seniors to relocate to more age-appropriate housing, but will also open up more suburbs for gentrification and redevelopment,” he says.

Morgan adds that, a year or so ago, he would have said anything that told Australians they were going to get ‘a few less hand-outs’ would have dampened the market.

“There’re other positive signs coming through though,” he says, “including the easing pressures on the Australian dollar. So I think, particularly if we get another rate cut, which seems to be fairly likely, I think the forces will balance each other. In fact, if anything, I suspect there’s going to be a steady uplift in demand this year from investors…All in all, it’s still pretty positive going forward.”

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  • by Keith 15/05/2013 11:00:26 AM

    They couldnt run a brothel how can one a government have any credibility on backdrop of predicting a surplus 12 months ago to an amazing deficit ...and it goes on for 2016/17 and on based on tax receipts which are questionable!

  • by Frank 15/05/2013 11:11:35 AM

    How can anyone believe what this government has to say regarding the budget or anything for that matter. The forecast deficit for the 2012 budget was 22 billion and ended up being $44 billion. The same with this budget. Forecast to be in surplus then 19.4 billion. Any fool who believes a word these economic incompetents say believes in santa clause and the easter bunny.

  • by Just a battler 15/05/2013 12:23:17 PM

    Do they thing the Australian people are morons?
    Ten years to bring the books back in the black?
    If I ran my business like this Government run our country, then I would be out of business in very quick time.
    Swan can make all the excuses he likes, but the truth be known, they have stuffed up