fbpx

$25k home builder grant stimulates demand for new homes

1 min read
Share on facebook
Share on twitter
Share on linkedin

$25k home builder grant stimulates demand for new homes

Confidence has returned to the property market in a big way, according to new forecasts from Domain.

Domain has forecast house and unit prices to increase in both 2020 and 2021. These forecasts cover Australia as a whole and also the seven biggest capital cities (with Darwin being excluded).

The $25,000 HomeBuilder grant has proved very popular, with new home sales jumping 77.6% from May to June, according to the Housing Industry Association.

To be eligible for HomeBuilder, you must:

  • Be an owner-occupier
  • Earn less than $125,000 for singles and $200,000 for couples
  • Build a new home or substantially renovate an existing home
  • Sign the contract before 31 December 2020
  • Start building within three months of the contract date

(Other conditions apply. Click here for more details.)

But beware of buying a property just to access the grant.

The tight December 31 deadline means you might struggle to get a building contract signed with a reputable builder by the end of the year.

Need a construction loan?

Call me or hit the button below to arrange a conversation with one of my loan specialists to find a deal that’s best for your situation.

We partner with over 50 lenders so you can find the perfect solution

Do you have questions about mortgages or loans?

Ask us in the comments below