Homebuilder scheme: Which South Aussies will benefit most from the Federal Government $25k grant

The Federal Government has announced cash grants of $25,000 for new home builds and renovations in a move to stimulate the building industry. Which South Aussies stand to benefit most?

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First homeowners building a new property will be the biggest winners of a new $25,000 building grant from the Federal Government.

Prime Minister Scott Morrison on Thursday unveiled the $688 million HomeBuilder scheme which also includes cash for owner-occupiers planning renovations over $150,0000.

The injection aims to turbocharge work in the construction sector and is expected to spark up to 2500 new builds and thousands of jobs in South Australia.

Treasurer Rob Lucas told The Advertiser the announcement was great news for first new home buyers because they will now get $40,000 – with the additional $15,000 from an existing state grant.

He said the grants for new builds valued up to $750,000 would create a “very significant boost”, adding up to a quarter of the work needed to sustain the building sector.

South Australian Treasurer Rob Lucas says the State Government will announce a second housing and construction stimulus package next week.

SA-BEST MLC Frank Pangallo has called on the State Government to extend the $15,000 first home owner grant to all owner-occupiers wanting to build a new home as an added stimulus measure.

He also wants fast-tracked planning approvals for councils to avoid project delays.

Master Builders SA chief executive Ian Markos and Opposition leader Peter Malinauskas are also putting pressure on the State Government to contribute to the federal policy.

But Mr Lucas said the state would not be adding to the scheme.

“We won’t be adding to the grants or abolishing stamp duty, however in the next week or so, we will announce a package of further measures to help stimulate the housing and construction industry,” he said.

Mr Malinauskas wants the government to match the Commonwealth package saying more was needed to save SA’s housing industry.

“Housing construction work is about to fall off a cliff and the Marshall Liberal Government cannot just rely on the Commonwealth package,” he said.

His federal counterpart Anthony Albanese said the package overlooked the need for social and affordable housing investment.

“They’ve come up with just one element of what should be a comprehensive package,” he said.

“We know that investment in social housing provides a return on that capital over a period of time.

“There’s nothing wrong with supporting private housing, that’s a good thing, but this package today will require $150,000 of expenditure at a time of economic uncertainty.”