Inquiries for land from prospective homeowners have tripled since April following the announcement of the Federal Government’s HomeBuilder scheme, according to data from realestate.com.au. Developers were flooded with enquiries in June after the announcement of $25,000 grants for new builds – enquiries about land were up by 63%.
REA director of economic research Cameron Kusher says the HomeBuilder package has proved attractive to first-home buyers and is likely to inspire many to bring forward their plans to buy. “Surprisingly, there was pick-up in May before the scheme was announced, which suggests people were comfortable with the idea of building a home and feeling con dent,” Kusher says. “The cherry on the top was HomeBuilder and since then we have just seen enquiry levels go from strength to strength.”
The rise in enquiry was particularly prominent in the more affordable markets. Tasmanian and West Australian projects drew the most attention, up 204% and 179% respectively while South Australia (up 99%) and Queensland (up 97%) were also popular.