Federal Government HomeBuilder scheme ‘salad’ to NT’s tradie fund ‘steak’ Gunner says, as buyers snap up grants
TERRITORIANS are expected to snap up a new Federal Government scheme to spur new home construction or major renovations, as it can be combined with the NT Government’s homebuyer grants
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TERRITORIANS are expected to snap up a new Federal Government scheme to spur new home construction or major renovations, as it can be combined with the NT Government’s generous first homebuyer grants.
HomeBuilder will cost the Federal Government about $688 million but is demand-driven and the bill could vary depending on how many Australians claim the cash.
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To access it, owner-occupiers must apply as individuals and not companies or trusts, be Australian citizens aged over 18 and earn below two income caps – $125,000 for individual applicants or $200,000 for couples.
Multibuild Homes builder Phillip Hoare said he had been telling prospective customers about the HomeBuilder scheme since Monday when first details were leaked, and already had 35 expressions of interest.
He was set to sign off on three contracts for new homes on Thursday, which will secure the company work for the next 12 to 18 months.
Mr Hoare said customers who had been saving to build a new home were now able to expedite their plans, as they could combine the $25,000 from HomeBuilder with the NT’s $20,000 BuildBonus grant and its stamp duty discount scheme worth up to $18,601.
Chief Minister Michael Gunner described HomeBuilder as the “salad” to the NT Government’s $100 million Home Improvement Scheme “steak”, as the latter would be doing the “heavy lifting” by benefiting more Territorians.
Master Builders NT chief executive Dave Malone described HomeBuilder as a “conservative approach” compared to what the peak body had lobbied for.
Mr Malone said the scheme, combined with other NT grants and a historic low interest rate of 1.25 per cent, would nonetheless be a significant leg up for first home buyers.
HomeBuilder has also sustained criticism, particularly from federal Labor, for the lack of funding to social housing.
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The Australian Council of Social Service rejected the plan, saying it was a “wasted opportunity” to address a backlog of urgent social housing repairs and a shortfall in social housing stock.
HomeBuilder is expected to pump $15 billion into the Australian economy.
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