Victoria extends HomeBuilder grant by three months
The Victorian government will extend the $25,000 HomeBuilder grant in response to the introduction of stage four restrictions in metropolitan Melbourne.
In what was originally a three month window from contract date to beginning of construction, the HomeBuilder grant has been extended by three months to now allow for a six month window.
Released in June this year, HomeBuilder provides eligible owner occupiers with a grant of $25,000 to build a new home, substantially renovate an existing home or buy an off-the-plan home/new home. A new home is one that has not previously been sold or occupied as a place of residence and where construction commenced on or after 4 June 2020.
While building and construction sites will remain open under stage four lockdown, the industry has been scaled back to allow for a reduction in the amount of people onsite and ultimately leaving their homes for work. This comes as an attempt to reduce the number of positive cases of Covid-19 within Victoria.
One of the new restrictions to the residential sector will now see a maximum of five people onsite at any one time.
The extension of the HomeBuilder grant by three months comes in light of the anticipated struggles of the industry in hopes that more people will be encouraged to build. This would hopefully act to stimulate the construction industry that Premier Daniel Andrews has said it to be the “lifeblood” of the Victorian economy.
To read more about the HomeBuilder grant, read our FAQs here.