For the development and construction sector, the HomeBuilder stimulus package was welcome news. The UDIA had launched a strong campaign for assistance for our sector and it’s very pleasing now that after the first weekend we’re hearing many positive reports about the increased level of inquiries.
While we are very grateful for Federal Government for taking a leadership role, there is no doubt that there have been many concerns raised by number of members largely related to details of the scheme and its operation.
We have been in dialogue with the office of the Minister for Housing and Assistant Treasurer, the Hon Michael Sukkar MP, on a host of issues, particularly related to the provisions in the scheme and their application to off-the-plan apartments and townhouse projects, as well as circumstances where the purchaser has a contract with a developer, but not the builder.
We have also raised several other matters with his office, provided to us by our members, including definitions of the ‘commencement of construction’ trigger in the package, and eligibility under the scheme for different types of house-and-land products.
For land division, a number of members have expressed concern about some of the very tight time frames of the scheme and have suggested that the three months construction commencement should begin from the time of finance approval.
Rest assured we will keep pushing until we receive clarity on these matters.