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HomeBuilder extended, but reduced by $10,000 for 2021

Australians keen to build a new home have been given an extra three months to find a builder and sign a contract, but the federal government’s HomeBuilder grants have been cut to $15,000 if the contract is signed in 2021.

Bricks being laid
HomeBuilder has been a crucial boost to the nation's economic recovery from COVID-19. Photo: Shutterstock

Australians keen to build a new home have been given an extra three months to find a builder and sign a contract, but the federal government’s HomeBuilder grants have been cut to $15,000 if the contract is signed in 2021.

Prime Minister Scott Morrison and Housing Minister Michael Sukkar announced the extension over the weekend, with the additional time to allow for another 15,000 homes to be built or majorly renovated.

Around 27,000 home constr…