The Housing Industry Association calls on the Victoria State government to work with the federal government to expand the HomeBuilder program to the state.
Fiona Nield, Victoria's executive director at HIA, said homebuyers in the state didn't have enough time to process what needs to be done to qualify for the program. As part of this program, eligible buyers must register with a builder by the end of December. The HIA proposes that the deadline be extended in Victoria to March 31, 2021.
"The Fourth Stage restrictions in Victoria have slowed down home buying activity and with the December 31 deadline for signing a qualifying housing contract for HomeBuilder quickly approaching , the Victorians just need more time, ”she said.
The state government lifted restrictions on private inspections at the end of September. Yet the lockdown has already affected the expected boost to real estate activity from the HomeBuilder program. In fact, the HIA recorded a 14.4% drop in sales of newly built homes in August.
"When the grant was announced, no one would have thought that a return to the restrictions in Stage 4 would occur and that the show houses would be closed for several months" , Nield said. "With less than 12 weeks to go until the December 31 deadline, the fear is that many Victorians who wish to access the grant may not be able to through no fault of their own."
Nield says it takes at least 12 weeks for a contract to be signed and there are other factors to consider when buying a home or the conclusion of a contract for the construction of a new house. Renovators who would like to take advantage of the scheme will also be affected if the deadline is not extended.
“Unlike building new homes, if work cannot begin on a project, homeowners will delay engaging with builders to begin a renovation, meaning many Victorians planning renovations under HomeBuilder risk also to miss out, ”she said.
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