Great news for those who thought they may have missed out as the HomeBuilder grant as it has now been extended. All new contracts for owner-occupiers signed between January 1, 2021 and March 31, 2021 will be eligible for a $15k grant from the federal government. For all contracts signed this year, the grant is still $25k. The construction commencement deadline for builders has also been extended from three months to six, giving builders more breathing space to kick off construction.
“The Commonwealth Government’s extension of HomeBuilder and the State Government’s extension with further construction stimulus shows a strong resolve to achieve economic recovery, which supports leading states such as WA who have forged ahead with changes and further building stimulus measures to support our economy.” said Master Builders Association (MBA) Western Australia Executive Director John Gelavis.
Graham Wolfe, managing director for the Housing Industry Association (HIA) also praised the move, commenting that the extension would help thousands of Australians who dream to be homeowners.
He commented that “This extension will ensure that the demand is carried forward to 2021 and activity will continue throughout the year’ and that “This HomeBuilder extension brings welcome certainty and stability that will allow the Australian housing market to push forward into 2022, regain its pre-COVID-19 confidence and maintain a steady supply of housing at an affordable rate for Australians.”
The grants have exceeded expectation in generating jobs in construction, manufacturing and retail whilst helping Australians to take up homeownership. These factors will continue to underpin the Australian economy in 2021 and beyond.
This is a brief summary of the article ‘Federal grant extension a boost’ by Rhys Prka | The West Australian | Monday 7th December 2020.