UDIA NSW Media Release on Home Builder Scheme
The Commonwealth Government has today unveiled its stimulus package to support the housing and construction sector recover from the economic effects of COVID-19.
The main element for new home construction is a $25,000 grant to owner-occupiers building a new home where the contract is entered into between today, and December 31 2020. The package – while open-ended in terms of grant numbers – is estimated to cost approximately $688 million.
UDIA has been consistently promoting to all levels of government the importance of supporting an industry that adds jobs, wages and activity up and down supply chains. It is important to note housing is one of the first industries to receive a dedicated stimulus package, so our message reinforcing the sector’s economic importance has been heard.
The stimulus package is a positive response by the Federal Government, and we will now pursue broader reforms needed to sustain the industry at both a federal and state level. While we are broadly supportive, the Government needs to keep an open mind on the income and price thresholds, particularly in major capital cities where the cost of house-and-land packages regularly exceeds those proposed.
Information about the Government’s plan can be accessed here
A copy of UDIA National’s Bounce Back document can be accessed here
A copy of UDIA National’s media release can be accessed here
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