The updated program will include extending the eligibility for HomeBuilder from 1 January to 31 March; tapering the grant to $15,000 for owner-occupiers who sign contracts between 1 January and 31 March; extending the commencement window by 6 months (to the end of = September 2021); and increasing the price cap in Victoria and New South Wales to $850 000 and $950,000.
This has been welcomed by the Property Council of Australia, a strong advocate for an extension. It says HomeBuilder saved the construction industry from decline earlier this year.
Denita Wawn, CEO of Master Builders Australia, says the extension shows the Government’s “ironclad determination” to achieve economic recovery. “The Government knows that a strong building industry means a strong economy,” she says.