Region. Landcom 'bracing 'for sales boost

Parramatta-based, Landcom was bracing itself for continued strong sales following the Reserve Bank decision to drop interest rates a further 1 per cent, Planning Minister, Kristina Keneally, said the interest rate cut was expected to further boost already increased Landcom property sales in Northwest and Southwest Sydney. “Lower interest rates and increased State and Federal First Home Buyer Grants to a total of $24,000 have so far led to a 30 per cent increase in Landcom sales and sales inquires,” Ms Keneally said. The significant increases meant Landcom would have to release more land lots to meet the demand, she said.