HomeBuilder scheme to be extended to March

The federal government’s HomeBuilder grants program is being extended for three months, which is expected to see a further 15,000 homes approved under the scheme by March next year.

Cabinet Minister David Littleproud has confirmed the extension, saying the program has been a “real success story”.

“It is having a significant impact on getting us out of this COVID recession,” he told Sky News’ Sunday Agenda.

He said under the program, which assists home builders and renovators, there has been a 20 per cent increase in dwelling approvals.

“There has been 27,000 dwellings that have been approved under this and there is another 15,000 we anticipate under this (extension),” Mr Littleproud said.

“We’ll continue to monitor, not only this program but others as we move through the next year.”

News Corp newspapers say the value of the grant will decrease from $25,000 to $15,000 but the price cap for new buildings in NSW has been increased from $750,000 to $950,000 and in Victoria from $750,000 to $850,000.

There has been a 20 per cent increase in dwelling approvals under the HomeBuilder grants program Credit: AAP

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