Property owners at risk of losing the $25,000 HomeBuilder grant due to ongoing building delays have been given a reprieve from the government, with the scheme extended to June 2025.
HomeBuilder was set to end on April 30, which meant some eligible applicants would have missed out on lodging their final paperwork and receiving the grant.
The extension will only apply to existing, already-approved applicants who have formal approval for off-the-plan purchases or renovations.
To access the grant, homeowners needed to submit a practical completion certificate from the developer for an off-the-plan home, had paid out at least $150,000 for renovations or made the first payment to the builder for a new build by April 30.
Housing Minister Julie Collins said the Federal Government work with the states and territories to make sure those people who are eligible will be able to access the $25,000 grant upon completion of their home.
“Too many Australians stood to miss out on support they believed they would receive through no fault of their own,” Ms Collins said.
“This decision will not cost the budget but it will ease the burden on families right across the country who are relying on this grant.”
Covid-era delays, weather disruptions, labour shortages and access to building materials have all contributed to build times for new homes and renovations increasing, which led to many eligible applicants at risk of not having their homes completed in time.
Master Builders Australia CEO Denita Wawn said the building industry has welcomed the extension.
“We have seen the average time it takes to build a home shift from nine to over 12 months,” Ms Wawn.
“The extension allows builders to ensure there’s adequate time to deliver on projects during a time that has seen a perfect storm of pressures in the industry.
“We thank Minister Julie Collins for listening to the concerns of builders and the community so Australians are not missing out on the opportunity to have their home building dreams become a reality.”
Ms Wawn said HomeBuilder effectively saved businesses and jobs during the height of the pandemic and was an appropriate support measure.
“Families rightfully seized the opportunity to enter the home ownership market and it’s only fair that these projects can be followed through to completion,” Ms Wawn said.