'Like winning the lotto': HomeBuilder scheme a dream for some

Australia News News

'Like winning the lotto': HomeBuilder scheme a dream for some
Australia Latest News,Australia Headlines
  • 📰 theage
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 77%

'All of a sudden when they announced, I was like ‘Is this real?’

They had already bought land in a new housing development in the western suburb of Tarneit, but were unsure of when to build amid a hit to Anj's income from her job in finance and the broader uncertainty of the coronavirus crisis.

The other element of HomeBuilder, which offers $25,000 for renovations that cost at least $150,000, has received greater attention and criticism – from experts and talkback callers – because it assumes a comfortable level of existing wealth. Labor's housing spokesman Jason Clare said last week the entire HomeBuilder package had let tradies down.

Sam Lal, who works as a business analyst, will also use the $25,000 grant to build a new family home in the city's west. It is the difference between building and waiting, he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theage /  🏆 8. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Like winning the lotto': HomeBuilder scheme a dream for some'Like winning the lotto': HomeBuilder scheme a dream for someAfter the government announced $25,000 grants for new home builds and renovations, soon-to-be homeowner Anj Panday, googled the scheme 'three or four times to see if it’s real and finalised' and make sure her family met the strict qualifying criteria.
Read more »

HomeBuilder won't extend beyond December | Sky News AustraliaHomeBuilder won't extend beyond December | Sky News AustraliaFinance Minister Mathias Cormann has indicated the government’s HomeBuilder scheme won’t be extended beyond December, amid fears “of a demand cliff” in the construction sector. \n\n“This is a scheme that started from June 4 and is in place until December 31 in relation to projects that start construction within three months of the contract being signed,” Mr Cormann told Sky News.\n\nThe government on Thursday unveiled its $688 million HomeBuilder scheme, which is due to begin in July and wrap up by the end of the year.\n\nTo be eligible, individual applicants must earn less than $125,000 a year, or $200,000 for couples.\n\nThey must also sign a contract between July and December, and the new home can only be worth up to $750,000. \n\nThose wanting to renovate, must spend at least $150,000 on the work.\n\n“It is a program put in place to help bring forward demand and get activity in the residential construction sector,” he said.\n\n“Given our fears there is a demand cliff that is going to play out and cause harm to that particular sector.\n\n“So we’re not proposing to extend it beyond the six months, it is a project that is in place until the end of December.”\n\nImage: Getty\n
Read more »

HomeBuilder: How to apply for grant, what you need to knowHomeBuilder: How to apply for grant, what you need to knowThe Federal Government’s new HomeBuilder grant has only just been announced, but questions have already been raised regarding who can access it.
Read more »

'Free money': Real estate agents flooded with calls about HomeBuilder grant'Free money': Real estate agents flooded with calls about HomeBuilder grantThe industry is warning the government may need to give exemptions if banks and councils can't speed up loans and development approvals.
Read more »

Renovation handout dubbed ‘upper-middle-class welfare’Renovation handout dubbed ‘upper-middle-class welfare’The government’s new plan to subsidise renovations? A terrible bloody idea. One of the most shortsighted possible ways to try to get the economy going.
Read more »

Super bosses warn that hackers will again target coronavirus early release schemeSuper bosses warn that hackers will again target coronavirus early release schemeThe superannuation industry urges the Federal Government to step up its protections against ineligible claims after 150 Australians were targeted last month.
Read more »



Render Time: 2025-04-14 19:18:05