The Federal governments HomeBuilder scheme has been extended until March 31st! It has come as a welcome relief to many buyers who may have missed out on signing contracts in time for the scheme which was set to end on 31st December 2020.
The extension to the homebuilder scheme sees the following for all new build contracts signed between 1 January 2021 and 31 March 2021
- Eligible owner-occupier purchasers will receive a $15,000 HomeBuilder; and
- The property price caps for new builds in New South Wales and Victoria will be increased to $950,000 and $850,000 respectively.
- In addition, the construction commencement deadline will be extended from three months to six months for all eligible contracts signed on or after 4 June 2020.
Across Australia, the HomeBuilder scheme has had 23,877 applications and 19,180 of applications have been for the construction of newbuild homes (as at 20 November, 2020). The governments ‘First Home Loan Deposit Scheme’ has also assisted 10,000 eligible First Home Buyers to secure their Finance with a deposit of only 5% of the purchase price.
Combined with a First Home Buyers Grant, and the FHLDS, the HomeBuilder extension gives even more support to First Home Buyers looking to get into the housing market and excellent economic support to local builders in the Residential Construction Industry.
Adenbrook Homes also have builders across the South East Queensland, Northern Rivers, Mid North Coast, Greater Sydney, Hawkesbury and Blue Mountains, Wollongong and Melbourne who are ready to help you into your new home! Speak to one of our experienced new home advisors to discuss your home needs.
Find out more by visiting: https://treasury.gov.au/coronavirus/homebuilder