Friday, 5 June 2020
Yesterday, 4 June the Federal Government announced $25,000 grants to build a new home valued between $150,000 to $750,000. This is not only welcome news for anyone looking to build a new home but also for the 9% of Australia’s workforce that is made up of construction workers and the significant contribution the industry makes to Australia’s economic success.
HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home where the contract is signed between 4 June 2020 and 31 December 2020.
The grant for new homes will encourage the building of new dwellings across a range of income earners, allowing more into the market and boost activity in the sector. It is an outstanding opportunity for individuals, who may not have thought homeownership to be within reach, to realise the dream of building a home.
Mario Biasin, Chief Executive Officer at Metricon Homes, said “Not only does today’s announcement make it easier for Australian’s to build a home - it also helps stabilise the economy, keeping thousands of our direct and indirect workers in the residential construction sector employed.
“We support any government initiative that assists Australians to invest in the housing market and protects our employees’ livelihoods during the challenging circumstances brought on by COVID-19,” Mario said.
The grants will be means tested, allowing singles who earned up to $125,000 the previous financial year and couples who earned up to $200,000 to access the scheme.
The scheme will work along existing state and territory first-home owner grants programs, stamp duty concessions and other grant schemes, including the federal government’s first-home loan deposit scheme and first-home super saver scheme.
“The combination of the grant, record low-interest rates and affordable new housing options means that building a home has never been more within reach,” Mario concluded.
To further bolster the grant’s impact, in some states Metricon is offering a further bonus of up to $40K on top of this and other grants on a range of home designs and partners with finance specialists to support the unique circumstances of its customers.
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