HomeBuilder construction commencement was recently extended. Initially it was for 6 months post contract signing, but it the Government recently announcement an extension of 18 months.
Were you one of the 121,000 people who took advantage of the HomeBuilder grant? Good news for those people who were able to proceed with an off the plan purchase. The extension was placed in response to the unanticipated delays in the construction industry. The building industry has had a number of supply constraints given the impact of covid-19.
The HomeBuilder scheme was applicable to purchasers who signed contracts during the eligibility period, between 4 June 2020 and 31 March 2021. These buyers now have the pleasant news that the HomeBuilder construction commencement has been extended.
The government stimulus has seen unprecedented new builds take place Victoria wide, especially in metropolitan Melbourne. According to data from the Housing Industry Association, there was approximately a 90% increase between February 2021 and March 2021, as buyers moved promptly to take advantage of HomeBuilder package before the deadline.
If you are interested in looking to buy a brand new or off the plan property, we can help you through the entire process. Don’t let fear and the unknown get the better of you. We monitor the property market daily and will make sure you make the right investment decision.
Please feel free to visit our website to learn more. You can contact us at anytime to discuss your situation and learn more about what your next best steps will be.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
April 2021
