‘Just advertising tools’: Incentives on offer in crowded new-build market

 

PHOTO: A competitive market can give rise to offers to stand out from the competition, economists say. Photo: iStock

Home builders and developers are offering buyers incentives in an effort to stand out amid the tough property market.

Advertising campaigns that spruik prices as cheap as the 1990s and the chance to win a free car are just some of the promotions available in early 2019.

The outlook for new residential building generally dips during periods of falling house prices, economists say.

“It is a more challenging environment for home builders at the moment,” Master Builders Australia’s chief economist Share Garrett said. “We estimate fewer homes will be built in the following years, especially when prices are going down in Sydney and Melbourne.

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