Taxes scaring home buyers: builder
ROCKHAMPTON-based builder Ted Price says the carbon and mining taxes are scaring off new home buyers.
Of the 43 houses he currently has under construction in the region, only three are contracted to locals.
“The rest are all southern investors which is no good,” Mr Price said.
He said the market had not been this bad since 1985.
“The thing is, it’s not so much about the taxes themselves, but the uncertainty in people it’s creating when it comes to buying a home.
“There’s no confidence.”
Mr Price was responding to reports in The Morning Bulletin yesterday which revealed the rental vac
ancy rate in the Rockhampton region was at a low 1.8%.
He said he had 30 houses being built in Gracemere and 13 at the Zilzie Bay Resort, but if you asked other building businesses, some weren’t doing so well.
“There’s been a 90% drop in the market and it’s really affecting people in this area especially.”
“(Other builders) will tell you they’re suffering and it’s not going to change unless something’s done about it,” Mr Price said.
The median sale price for Gracemere in October 2010 was $320,000.
That rose to $340,000 in February this year before returning to the October price last month.