More than 11,000 home builders and renovators have applied for the federal government’s $25,000 sweetener to encourage housing activity, but so far just 780 have got their hands on the cash.
The HomeBuilder grant scheme has attracted about 11,400 applications, new data released by the government on Thursday shows. New home builds make up 8884 of the national applications, with the remaining 2483 for rebuilds or renovations. Treasury forecasts expect 27,000 people to apply by the time the scheme ends in December, including a surge in the Western Australian figures.
Housing Minister Michael Sukkar said in a statement the scheme was providing the necessary stimulus to “get to the other side of the COVID-19 pandemic”. The scheme is forecast to cost taxpayers $688 million.
“Across the board the construction industry is saying that HomeBuilder is delivering for Australia’s tradies and home buyers, which is driving stimulus in the economy at a time it’s needed most,” Mr Sukkar said.