HomeBuilder extended

The federal government has extended its HomeBuilder program, following the state government’s move to extend its own Building Bonus initiative.

The announcement comes within weeks of the state government extending the construction commencement deadline for the $20,000 Building Bonus grants.  

Under the Building Bonus grants, applicants must sign a contract by December 31 this year and begin construction before June 30 2021. However, this start-up date has been extended by six months to December 30 2021.

The HomeBuilder scheme provides $25,000 grants to eligible homemakers and was due to expire at the end of 2020.

The federal government announced yesterday that it had extended its application period to March 31 2021, but at the lower sum of $15,000.

Prime Minister Scott Morrison said the extension was expected to result in an additional 15,000 construction projects.

"Extending HomeBuilder will mean a steady pipeline of construction activity to keep tradies on the tools,” he said.

Master Builders Association of WA executive director John Gelavis said the program extension reflected the federal government’s willingness to listen and act in the community’s interests, the grants helping to provide the leg up that thousands of Australians needed to help get a foot on the property ladder.

“It is pleasing to see that both federal and state governments understand that a strong building industry means a strong economy which is why we have seen such powerful stimulus measures and willingness to adapt and extend these successful schemes,” Mr Gelavis said.

“We know that owning your own home is one of the most effective ways for people to build household wealth to provide financial security during their working lives and their retirement, so extending HomeBuilder also provides huge long-term benefits.”