Todd Bates from McGrath Estate Agents says the axing of stamp duty for first home buyers will help to drive the market from the bottom end upwards.
“I can only see a positive impact from this change,” the principal said.
On June 1 The NSW Government introduced changes to improve housing affordability which was focused on helping first home buyers.
As a result stamp duty will be abolished from all homes which are for sale up to $650,000.The change will come into effect on July 1.
Under the changes the government will also provide a $10,000 grant for purchasers of new homes up to $600,000. Mr Bates said he expected this change will drive land sales.
Mr Bates said there is potential that house prices will become heightened as a result of the stamp duty being axed.
He recommends first home buyers should get in early if they are thinking of purchasing a property on the market.
Mr Bates said there is huge demand for houses which are priced around the $450,000 to $500,000 mark.
At the moment McGrath Estate Agents are selling 48 per cent of properties to people who live outside of the Port Macquarie-Hastings region.
He said both buyers and investors are attracted to the town’s infrastructure, airport and the hospital upgrade.
Mr Bates said it was good to see the younger demographic coming back in the market after a slow period of 12 to 18 months.
He said the drive in the market will allow young families to move out of three bedroom homes into four bedroom houses.
East Port Macquarie and Lighthouse Beach are proving to be the most in demand areas in town for McGrath Estate Agents.
There have been two properties which have sold sight unseen in the last month.