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Homebuilders to lead recovery with $688m boost

Australia’s residential construction sector has been handed a $688 million lifeline, with grants of $25,000 to be made available to build new homes or undertake significant renovations.

Homebuilders to lead recovery with $688m boost
Bleak housing construction forecasts may not be realised under the Morrison government's HomeBuilder stimulus. Photo: Shutterstock

Australia’s residential construction sector has been handed a $688 million lifeline, with grants of $25,000 to be made available to build new homes or undertake significant renovations.

Prime Minister Scott Morrison unveiled the federal government’s HomeBuilder program last night, saying it would allow for a tradie-led recovery of the national economy.

Grants of $25,000 will be available for people building new homes valued at up to $750,000, i…