05.02.2013 - Australian homebuilders canít give them away: Mortgages
Australian homebuilders are resorting to discounts, gift cards and help with mortgage payments to compete for dwindling buyers as home sales slow. Stockland (SGP), Australiaís biggest residential developer, is giving rebates and gift cards of as much as A$30,000 ($31,300) in Victoria, Queensland and New South Wales states. Devine Ltd. (DVN) is matching deposits in South Australia and taking over mortgage payments for as long as a year in Melbourne. Peet Ltd. (PPC) has been offering discounts of as much as A$50,000 in Western Australia, Queensland and Victoria.........................................Full Article: Source
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