The industry is warning the government may need to give exemptions if banks and councils can't speed up loans and development approvals.
Real estate agents in outer suburbs have been flooded with calls about the Morrison government's HomeBuilder grant for new homes and renovations, but major industry groups warn many people will fail to qualify unless the scheme is expanded and normal processes are suspended.
But Tom Forrest, chief executive of the Urban Taskforce, which represents property developers, said the scheme would have limited use in Sydney, where fewer packages were available under $750,000. Applicants must sign a building contract by December 31 and construction must start within three months of signing. Critics said the tight time frame meant many people who qualify would have been planning to undertake the projects anyway.
It was a similar story in Melbourne, where Simonds Homes general manager Mark Richardson said the phones lit up "literally instantly" when the package was announced.
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