Tradies across the Mid North Coast will be soon back at work with the Australian Government backing construction jobs while supporting home builders and renovators, according to Lyne MP Dr David Gillespie.
Mr Gillespie said HomeBuilder will provide all eligible owner-occupiers, not just first home buyers, with a one-off grant of $25,000 to build a new home or substantially renovate an existing home.
HomeBuilder eligibility criteria includes:
- Income caps aligned to the First Home Loan Deposit Scheme ($125,000 for singles, $200,000 for couples)
- A new home build national price cap of $750,000,
- A renovation price range of a minimum of $150,000 up to $750,000 for an existing home valued under $1.5 million before works.
- Construction of a new home or substantial renovation must commence within three months of the contract date.
HomeBuilder will operate from Thursday, June 4 until December 31, 2020.
"This will be a major shot-in-the-arm for the Mid North Coast economy. HomeBuilder will help boost residential construction activity, directly supporting 140,000 tradies, and further one million jobs indirectly, in the residential construction sector across the region.
"This news will be welcomed by carpenters, plumbers, bricklayers and electricians on our building sites, and support the timber mill workers who produce the frames and trusses as well as the manufacturing workers who make the steel frames, glass, bricks and tiles for our homes."
Dr Gillespie said HomeBuilder will support the jobs of sole-traders, building contractors, engineers, draftspeople and real estate agents.
"Like many of Australia's industries, our residential construction sector has not been immune from the COVID-19 crisis, however it faces a unique challenge," he said.
It's an industry which has long lead times and a long supply chain. Ensuring there is a steady pipeline of work for the residential construction industry is vital to help it emerge strongly from the COVID-19 crisis.
HomeBuilder will complement existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Federal Government's First Home Loan Deposit Scheme and First Home Super Saver Scheme.
For more information visit treasury.gov.au
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