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.