$21,000 'no use' for first homebuyers

$21,000 &squo;no use&squo; argues Symond | The Daily Telegraph

AUSSIE Home Loans boss John Symond claims $21,000 grants will be of little use to Sydney homebuyers unless more affordable land with services is freed up.

Mr Symond yesterday accused governments of failing to provide a solution to the housing crisis, which is more acute in Sydney than anywhere else in Australia.

$21,000 &squo;no use&squo; argues Symond | The Daily Telegraph

"Governments have to move ... because you have to get the land released, then get the cost of services right and get them connected and delivered to purchasers in an affordable environment,'' Mr Symond said.

$21,000 &squo;no use&squo; argues Symond | The Daily Telegraph

"The land is too expensive anyway,'' he said.

Mr Symond said yesterday that successive governments had negligently allowed the housing problem to get out of hand.

"To get new land release in Sydney you have to drive a couple of hours out of town and pay $300,000 or $400,000,'' he said.

"Then on each block of land on average there's $150,000 worth of costs for services which has been totally passed on to the developer and which they then totally pass on to the poor old first homebuyer.''

But some relief could be on the way over the next few weeks as Premier Nathan Rees is expected to remove controversial developer levies, which add up to $50,000 to the cost of new homes.