More people building homes via HomeBuilder incentives

HomeBuilder and other housing incentives pushed loans for new home-building up 11.5 per cent in October, marking the fourth straight month of increase since the federal government program was announced in July.

“The remarkable result is shown in the latest ABS lending data and is the latest evidence that the success of HomeBuilder is having a positive impact on the housing sector and the economy,” Denita Wawn, CEO of Master Builders Australia said.

GALLERY  

As yesterday’s GDP figures show, HomeBuilder is already moving the economy forward. Separate industry figures on Thursday showed the slew of public incentives are keeping builders busy, with the Performance of Construction Index showing house-building and new detached house orders rose to record highs in November.

“Compared with October 2019, the number of loans for new home construction has expended by 82.8%,”Wawn said.

HomeBuilder is not only meeting its projected targets but exceeding expectations and last weekend’s budget announcement around the extension to HomeBuilder represents a very positive development. This stable growth looks to continue rising well into 2021.

“We will see more of the benefits from HomeBuilder coming over the next few months. This is good news for the businesses in the building supply chain and the people they employ. It is good news for the whole economy,” Denita Wawn said.






Get our enews

Design and development news that comes to you

Subscribe
                 


Fairhaven Beach House, Fairhaven

Set high above Victoria’s Surf Coast, the Fairhaven Beach House is a striking family retreat by Wardle that ...

Cibaria brings Mediterranean flair to Manly beachfront

Sydney-based interiors studio Luchetti Krelle has unveiled Cibaria, an all-day Mediterranean restaurant located on the ground floor of ...

Green Light for Major Brisbane Masterplan

A major new neighbourhood masterplan for Brisbane’s south has been approved, setting the stage for the delivery of ...

Mushroom-Inspired Dining Hall Grows into Ukrainian Hospitality Space

Ukrainian architecture studio YOD Group has completed a new dining hall for Grybova Hata (Mushroom House), a beloved ...

  MORE  

Stay connected to the SPEC

Join our reader network by signing up to our weekly newsletter and receive design and development news straight to your inbox





Specifier Source is brought to you by the same company that publishes Home Design, Grand Designs Australia Magazine, Kitchens & Bathrooms Quarterly Magazine, Outdoor Design Source, Build Home, CompleteHome and many more.

© 2022 Universal Media Co. All Rights Reserved. Privacy Policy. Terms of Service. The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Universal Media Co.