Cutbacks won’t stop HomeBuilder boom for southwest corridor

First-home buyers still lapping up stimulus package following 12-week extension

Deputy Prime Minister Michael McCormack and Senator Paul Scarr

FIRST-HOME buyers are continuing to lap up the Federal Government’s extended HomeBuilder Grant despite the recent $10,000 cutback to the scheme.

Deputy Prime Minister Michael McCormack made the revelation on Thursday while touring the site of a new housing development at Ripley.

He was accompanied by Senator Paul Scarr, who revealed applications for the grant had doubled since the three-month extension was announced last December.

Initially set to conclude December 31, the grant will now wind up March 31.

The original $25,000 payment for first home buyers was first was announced in June 2020 in a bid to help revive the struggling sector amid COVID-19.

Deputy Prime Minister Michael McCormack and Senator Paul Scarr inspect a housing development at Ripley.

The payment has since dipped to $15,000 as the Federal Government looks to roll back its COVID recovery measures.

It comes after recent data revealed more than 29,000 workers, along with 7700 businesses and organisations across Ipswich were still being supported by JobKeeper.

When questioned on whether cutting HomeBuilder by $10,000 was the best decision to continue supporting those doing it tough, Deputy Prime Minister McCormack said the grant was only intended to be a temporary measure.

“We’ll continue to back the economy the way we’ve done all the way through (the pandemic), we’ll continue to listen, whether it’s to the construction or housing industry,” he said.

He said Federal Government was still committed to supporting local communities through “temporary and scalable” measures.

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Deputy Prime Minister Michael McCormack says the stimulus package is bringing more people to the Ipswich region.

“We extended [the grant] because it was so popular, because builders were telling us they us they didn’t have enough time to get through all the work,” he said.

“This is going to create work for many months, even for years into the future.

“Let me tell you, for those who missed out, or didn’t qualify or get their paperwork in time, they were very pleased that we extended it for another three months.”

The housing project at Ripley has reportedly received a total of 114 deposits since HomeBuilder was introduced in June last year – with 72 of those grant eligible.

Senator Paul Scarr said the stimulus package allowed the Australian Government to focus on helping local economies rebound.

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Sekisui House Australia has is developing a housing project at Ripley as part of the Federal Government's HomeBuilder grant.

“The HomeBuilder scheme is helping to power the local economy, grow jobs and give locals a great opportunity to get into their first home,” Senator Scarr said.

Sekisui House state sales manager Scott Blaney said the grant had contributed to keeping more than 2200 of its workers employed.

Mr McCormack said he expected the grant’s extension would also likely help alleviate southeast Queensland’s rental crisis.

“It has a flow-on effect throughout the whole community,” he said.

“It’s provided that hope and opportunity for somebody that wants to to get into their first home, to beat that rental cycle.

“But we’re also providing that support relief for those people who are renters.

“We want to make sure that people can be very much able to manager their affairs, their financial affairs so that they can get back on their feet.”

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