HomeBuilder construction deadline extended
The Property Council has welcomed the Federal Government’s extension of the construction commencement deadline under the HomeBuilder program.
HomeBuilder recipients will now have eighteen months to commence construction, a year longer than previously required.
Property Council of Australia Chief Executive, Ken Morrison, says the HomeBuilder program has helped the property sector drive Australia’s economic recovery.
“Homebuilder has been an economic bullseye, it is one of the most successful economic stimulus measures ever undertaken by a federal government,” Mr Morrison said.
“This extension is a common sense solution that takes the pressure off homebuyers and home builders over the next few months.”
“As stimulated demand winds down we need governments to focus on rekindling Australia’s traditional drivers of demand such as overseas migration.”
“As HomeBuilder driven projects draw to a close, all eyes will now be on state and territory government efforts to keep employment and construction going in the apartment sector.”
Australia’s property industry is the nation’s largest employer providing 1.48 million jobs.