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Under the Morrison government’s HomeBuilder package, eligible owner-occupiers substantially renovating or building a new home could apply for a $25,000 grant if they signed contracts between 4 June 2020 and 31 December 2020, or a $15,000 grant for eligible contracts signed between 1 January 2021 and 31 March 2021.
The grant, which was means-tested and had property value/renovation value limits, closed for applications in April last year.
Final numbers for the scheme have now been released by Treasury.
According to the government department, there were 137,621 applications for the HomeBuilder program. So far, over 80,000 grants have been paid out, according to Treasury.
More than a quarter (29 per cent) of applications came from Victorians, who had endured the longest lockdown period of all Australian states since the COVID-19 pandemic began.
Queensland residents also applied for the grant in strong numbers, with just over a fifth of applications coming from the Sunshine State.
Approximately 19 per cent came from NSW residents, 16 per cent from Western Australia, a tenth from South Australia, and just under 3 per cent from Tasmanian residents.
Applications from the ACT comprised around 2 per cent of all applications, while there were just 562 applications from residents in the Northern Territory.
Michael Sukkar, the Assistant Treasurer, Minister for Housing, and Minister for Homelessness, Social and Community Housing, said the volume demonstrated the “incredible success of the scheme”.
“The HomeBuilder program is the economic gift that keeps on giving,” Mr Sukkar said, referencing analysis from Master Builders Australia that estimates that the potential economic boost of HomeBuilder-supported projects is $120.62 billion, with the program directly supporting 374,340 full-time jobs. Master Builders Australia also estimates that the value of building work supported by HomeBuilder is approximately $41.6 billion.
“The economic activity and full-time jobs supported by HomeBuilder proves that the Morrison Government’s economic plans are working,” the Assistant Treasurer said.
“Every one of the 137,621 HomeBuilder applications received represents a signed contract, which means more first homebuyers into their first house and more jobs in the construction sector.
“HomeBuilder continues to ignite the residential construction industry and has been a key part of the Morrison Government’s economic recovery plan out of the COVID-19 pandemic. The direct economic impacts of HomeBuilder and the nationwide flow on effects will be seen well into 2023.”
Mr Sukkar noted that HomeBuilder had also helped provide Australians with greater confidence and support to enter the new-home market, and had contributed to the decade-high levels of first home buyer activity.
According to Mr Sukkar, more than 300,000 Australians have been supported into their first home with the help of the Morrison government initiatives.
The chief executive of Master Builders Australia, Denita Wawn, welcomed the news, adding that programs like HomeBuilder helped stimulate the building and construction sector at a time when the country was facing the worst recession since World War II.
“Thanks to measures like HomeBuilder, which is driving $41.6 billion in direct home building activity and supporting more than $120.62 billion of activity in the wider economy, Australia is bouncing back far better than anyone could have imagined,” she said.
“Master Builders Australia estimate that 294,960 full-time jobs have been supported as a direct result of HomeBuilder, giving builders and tradies opportunity at a very difficult time for the industry.”
The HomeBuilder grant formed part of the federal government’s housing stimulus package, first announced in 2020 in response to the downturn caused by the COVID-19 pandemic.
It had the joint target of enabling more owner-occupiers to buy/renovate housing and supporting economic activity by protecting construction jobs and industry.
[Related: Second chance for government's unused FHB grants]
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