Earlier this week the Government announced an extension to the HomeBuilder program to 31 March 2021.
Unveiled on the QLD Government website, changes to the HomeBuilder program include:
- Reduced $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021
- An extended deadline for all applications to be submitted, including those applying for the current $25,000 grant and the new $15,000 grant
- Applications can now be submitted up until 14 April 2021 – this will apply to all eligible contracts signed on or after 4 June 2020
- An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants
- An increase to the property price cap for new build contracts in New South Wales ($950,000) and Victoria ($850,000)
- The existing new build property price cap of $750,000 will continue to apply in all other States and Territories
Other than the above, the existing program criteria applies. The $25,000 grant will still be made available for eligible contracts signed on or before 31 December 2020.
More information here.
