The state government stamp duty reduction to $0 for up to $500,000 purchases has added to the frenzy which will subside when the package expires on June 30. With a total of $30,000 of savings, it is not surprising that almost every potential first home buyer has stepped up to the buying plate. The low interest rates and some developers offering a further $10,000 rebate are making home ownership irresistible for first timers.

The higher than usual level of sales in this price range has created a lot of pressure on prices. The resultant price spike has extended beyond the $500,000 range, as many who have sold to first home buyers have re-entered the market buying at higher levels.

We do not expect the full grant to be extended as it has already done what it was supposed to do; that is to stimulate the economy and the building industry. Extending it would not be fair on all the buyers who brought forward their home ownership plans and competed strongly for the small number of homes affordable to them. Whether or not they do, most potential buyers will have already made their move so the extension would have little effect.

With the pool of potential buyers in this price range greatly depleted and some prices appearing artificially inflated, first home buyers should obtain expert advice before rushing in and buying anything just to get the extra $7,000 that the grants have been boosted by temporarily. We have houses available from $270,000 and apartments from $155,000.

The PowerSale method of sale is proving to be effective for our clients with strong clearance rates for properties sold using this method. The combination of a powerful database and professionally trained staff are making the removal trucks appear at our clients properties as short as 30 days later.

The world wide financial crisis is drawing a lot of investors back to the security of property. There is a very good reason why they call it "REAL" estate.