The final application numbers for the HomeBuilder program have confirmed the incredible success of the scheme, with 137,621 Australians applying for the HomeBuilder grant.
Analysis from Master Builders Australia estimates that the potential economic boost of HomeBuilder-supported projects is $120.62 billion, with the program directly supporting 374,340 full-time jobs.
HomeBuilder was specifically designed to protect tradies’ jobs and turbocharge economic activity in the construction industry, particularly residential construction, in response to the downturn caused by the COVID-19 pandemic.
HomeBuilder has also given Australians confidence and support to enter the new-home market, with first homeownership at its highest level in over a decade and over 300,000 Australians supported into their first home with the help of the Morrison Government.
Assistant Treasurer, Minister for Housing, and Minister for Homelessness, Social and Community Housing Michael Sukkar said every one of the 137,621 HomeBuilder applications received meant more work in the pipeline and more jobs for Australians.
“The HomeBuilder program is the economic gift that keeps on giving,” Minister Sukkar said.
“The economic activity and full-time jobs supported by HomeBuilder proves that the Morrison Government’s economic plans are working.
“Every one of the 137,621 HomeBuilder applications received represents a signed contract, which means more first homebuyers into their first house and more jobs in the construction sector.
“HomeBuilder continues to ignite the residential construction industry and has been a key part of the Morrison Government’s economic recovery plan out of the Covid-19 pandemic. The direct economic impacts of HomeBuilder and the nationwide flow on effects will be seen well into 2023.”
Based off these final application numbers, Master Builders Australia estimates HomeBuilder has boosted economic activity in Australia by $120.62 billion, with the value of building work supported by HomeBuilder at $41.6 billion.
CEO of Master Builders Australia Denita Wawn said programs like HomeBuilder helped stimulate the building and construction sector at a time when the country was facing the worst recession since the Second World War.
“Thanks to measures like HomeBuilder, which is driving $41.6 billion. in direct home building activity and supporting more than $120.62 billion of activity in the wider economy, Australia is bouncing back far better than anyone could have imagined.”
“Master Builders Australia estimate that 294,960 full-time jobs have been supported as a direct result of HomeBuilder, giving builders and tradies opportunity at a very difficult time for the industry.”
The Morrison Government is committed to helping Australians get into a home of their own as part of our economic plan for recovery following the COVID-19 recession.
|Total HomeBuilder Applications|