HomeBuilder program to protect over 1000 jobs

Federal Member for Wide Bay Llew O’Brien has welcomed today’s announcement of the new HomeBuilder program, which will help homeowners, boost jobs in construction and trades, and support Wide Bay’s vital timber industry.
 
HomeBuilder will provide eligible owner-occupiers (not just first home buyers) with a $25,000 grant to build a new home or substantially renovate an existing home.
 
Mr O’Brien said the $680 million package will help secure about 1000 jobs in Wide Bay and is expected to support 140,000 direct jobs and another 1,000,000 related jobs in the residential construction sector nationally.
 
“The flow-on effect of these grants will help construction businesses, sole-trader builders, contractors, property developers, construction materials manufacturers, engineers, designers and architects, as well as smaller local businesses like paint and tile and homemaker shops,” Mr O’Brien said.
 
“Local tradies like electricians, plumbers, tilers, their apprentices and trainees will also benefit from the boost to local building and renovation projects.
 
“Perhaps most importantly, it will also secure the future of Wide Bay’s significant timber industry, which creates more than 500 direct jobs in Maryborough alone, and indirectly creates more than 1000 jobs in Wide Bay including in processing, transport and other related businesses.”
 
The program is open from today until 31 December 2020, and construction must be contracted to commence within three months of the contract date.
 
HomeBuilder applicants will be subject to eligibility criteria, including income caps of $125,000 for singles and $200,000 for couples based on their most recent assessable income. 
 
A national dwelling price cap of $750,000 will apply for new home builds, and a renovation price range of $150,000 up to $750,000 will apply to renovating an existing home with a current value of no more than $1.5 million.
 
The HomeBuilder program will be implemented via a National Partnership Agreement, signed by the Commonwealth and state and territory governments.
 
More information on HomeBuilder, including eligibility, can be found on the Treasury Coronavirus Economic Response website.