The number of home buyers looking to build a new home has surged since the announcement of the Federal Government’s new HomeBuilder scheme. Residential development specialist Oliver Hume reported 156 reservations for land across their Queensland and Victorian projects, up 70% on the previous week and 130% on the week before that. Stockland chief executive of communities Andrew Whitson also reported high levels of traffic across their many property developments following the HomeBuilder package release, with inquiry levels now three times higher than the 2019 average. Another developer with increased inquiries was Villawood Properties which reported its numbers had dramatically risen to reach their highest level since the 2017 boom. A Villawood spokesperson said first-home buyers were leading the charge, making up about 50% of their 59 lot sales across the country over the past week.
Domain figures revealed Queenslanders were leading the charge, followed by Victoria, NSW and South Australia.