The government extended the HomeBuilder documentation deadline from 30 April to 30 June 2025, protecting grants of up to $25,000. UDIA National president Maxwell Shifman welcomed the extension, saying it prevents buyers defaulting on contracts and losing deposits, and gives industry breathing space after supply delays and builder failures.
As I told the Australian Property Journal: “Without this decision, ordinary Australians, through no fault of their own, were in danger of losing not only their Homebuilder grant but also their home deposits, which have taken them years to save – putting them in a worse situation than before the pandemic,”
I also said: “This extension will ensure Australians will not be negatively impacted financially, keeping their family home ownership aspirations alive and the industry now has the breathing space it needs to finish Homebuilder projects, following supply chain delays, COVID 19 shutdowns, and construction company failures that pushed timelines past the earlier completion deadline for Homebuilder,”
And I added: “The extension to Homebuilder does not involve any additional expense to Government, it simply recognises that the challenges experienced by the construction industry have been outside anyone’s control.”
Australian Property Journal, 27 March 2023 — Read the full article