PHOTO: HomeBuilder scheme
REA Group Chief Economist Nerida Conisbee says the price ceiling on the Coalition’s HomeBuilder scheme to incentivise builds of new houses or renovations will exclude many homes and suburbs – particularly in large cities.
Ms Conisbee said there was “quite a short list” of suburbs which could benefit especially given rental housing and investors aren’t eligible.
The HomeBuilder scheme offers eligible owner-occupiers a grant of $25,000 to build a new home or substantially renovate an existing home. Ms Conisbee said the short timeframe of the plan would; however, produce a “rush” of activity and generate employment while dodging a rise in the housing market. “If you give people more money to buy homes, it does push up pricing, and given how unaffordable housing is in Australia, that’s not something we want to do.”
