According to The Australian Financial Review, mum-and-dad investors have joined the rush of first-home buyers snapping up housing lots in Melbourne’s outer suburbs, amid a growing preference for homes with backyards over inner-city apartments since the start of the pandemic.
Despite the government slashing its HomeBuilder grant to $15,000 from January 1, land sales specialist Core Projects registered a near record 2200 lot sales across Melbourne, Geelong and regional Victoria in January.
Core Projects estimated about a quarter of these sales were to investors in some estates.
Mr Neilson said investors had re-emerged in the land market after about a two-year hiatus, accounting for up to 25 per cent of sales in some projects in the final quarter in 2020.
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