Today’s data from the Housing Institute of Australia (HIA) confirms yet again that the Morrison Government’s HomeBuilder programme is achieving its objective of protecting tradies’ jobs.
In the two months since June, Australia’s major builders have reported that new home sales have increased by more than 64 per cent over the preceding two months.
HomeBuilder was designed to encourage those who may have understandably pulled back from undertaking a new build, or substantial rebuild, in March when the COVID-19 pandemic hit, to enter the market.
The latest HIA data shows HomeBuilder is doing exactly what it was intended to do by generating immediate construction activity that will engage tradies straight away. HIA Chief Economist Tim Reardon said;
“With two months of data since the introduction of the Australian Government’s HomeBuilder scheme it is increasingly clear that HomeBuilder has arrested the decline in New Home Sales and will protect jobs in the sector into 2021.”
By giving Australians confidence and support to enter the new home market, or make it more affordable to add to their existing home, we are protecting and creating more jobs across the construction industry at a time when the economy needs it most.
