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






                 


Infusing tones and textures of charcoal for Bangkok restaurant

Taste Space’s Taahra Thai Charcoal Grill Bar in Bangkok, Thailand’s design concept draws inspiration from the aesthetics of ...

Contemporary revamp for historic Bohemian hotel

Originally built in 1931, Hotel Torni in Helskinki has had a contemporary revamp, with Finnish interiors studio Fyra ...

‘Separate but Together’: How this small house redefines space

A series of rooms in this small house, all of the same size, followed one another without any ...

$1.5B joint venture for Shellharbour town centre

Frasers Property Group is applying to begin building what will be the town centre of its $1.5-billion joint ...

  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










© 2018 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.