‘Home Builder’ scheme proving a saviour for Aussie economy

It appears that home owners are playing a vital role in Australia’s coronavirus recovery, with a significant uptake of the ‘Home Builder’ grant.

The federal government has received triple the number of applications it was expecting, with more than 75,000 households applying for the $25,000 grants.

Victoria has recorded the biggest uptake of the construction grants, at 21,595 applications.


Queensland was second best with 16,613 applications, then New South Wales on 13,687.

Housing Minister Michael Sukkar says this is good news for the construction industry in the months/years to come.

“HomeBuilder was designed immediately to inject confidence and encourage buyers back into the market to offset the devastating effects of the pandemic on the residential construction industry.

“On all counts HomeBuilder has more than achieved this objective,” Mr Sukkar said.

When it was announced in June, the Home Builder scheme aimed to build around 30,000 homes by Christmas.

But treasury modelling now predicts that around $18 billion of residential construction projects will be supported by the Home Builder scheme.

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What it really has done is increased the price of standard new homes with builders taking advantage of the taxpayer funded support meant for new buyers entering the market.
Currently major builders enjoy a 40+% margin on new builds and this just adds to their profits.