Builders welcome grant for potential home buyers
THE Federal Government’s HomeBuilder program has been welcomed by Minister for Water, Resources and Northern Australia, Hinkler MP Keith Pitt, and Bundaberg builders alike.
The package was announced by the Prime Minister this morning and provides a grant of $25,000 to eligible owner-occupiers to build a new home or renovate an existing home.
“This package will keep our local builders, plumbers, electricians, tilers, apprentices and trainees in their jobs,” Mr Pitt said.
“But it’s not just the workers on the tools, it’s the hardware shop, the timber yard, the flooring company, the paint shop, that will supply the materials for this construction.”
Eligiblity conditions for the program include a requirement to earn less than $125,000 for singles or $200,000 for couples.
New homes built must also be a principal place of residence valued up to $750,000.
But particular criticism has been levelled at the requirement for renovations to cost a minimum of $150,000.
Labor’s Housing spokesman Jason Clare said there weren’t many battlers living in the suburbs with that much spare cash laying around.
He was also critical of the size of the fund compared to the stimulus released by Labor after the Global Financial Crisis.
“We’re already in recession, and what the government has announced today is only one-tenth of what we did to help the housing construction industry and Australian tradies a decade ago,” Mr Clare said.
But the stimulus was welcomed by a number of Bundaberg businesses.
Director at JRZ Homes, Jesse Zielke, said the news was hugely welcome for his industry.
He said it would be great for business and those who support builders, plus flow on to other sectors.
He said the news was great for those considering building their first home as well, with Queensland’s First Home Owners Grant bringing the full fund to a cracking $40,000.
Owner at Warren Family Homes Brad Warren mirrored the enthusiasm, saying the addition of the existing First Home Owners Grant was an “absolute winner” for potential buyers
He said the grants had come at an opportune time for many people and the construction industry as a whole.
“I personally feel this grant will be more dominated by people looking to build their first or new home,” Mr Warren said.
“The bench mark of $150,000 for home renovations may be outside a lot of people’s grasp, but with a talk to the right finance lender, this is still a massive amount of money to be given to home owners to achieve their home goals of remodelling.”