HomeBuilder 'the star' of economic recovery driving $50b boost to economic activity

THE overwhelming success of the Federal Government’s HomeBuilder scheme in driving economic recovery is confirmed by new data released today, according to Master Builders Australia.

“It’s even more proof that a stronger building industry means a stronger economy,” Master Builders Australia CEO Denita Wawn said.

“HomeBuilder has been the star in the government’s economic recovery plan since it was announced in June last year along with measures such as JobKeeper.

“HomeBuilder will support $18 billion in new home construction and $50 billion in economic activity across the wider economy,” Ms Wawn said.

“The surge in new home construction being driven by HomeBuilder has averted the valley of death that was confronting residential builders and tradies due to the pandemic.

“Without HomeBuilder thousands of small builder and tradie businesses would have gone under and hundreds of thousands of jobs would have been lost,” Ms Wawn said.

“There is no doubt that the Federal Government’s decisive action to implement HomeBuilder in the eye of the Covid storm saved the day for thousands of small builders and tradies, the people they employ and communities they support around the country.

“The success of HomeBuilder also demonstrates that measures that support people to overcome the deposit gap is a game-changer in making homeownership available to more Australians,” she said.

“The benefits of homeownership to individuals, families and the community can never be underestimated and the government also deserves credit for element of HomeBuilder’s success,” Ms Wawn said.



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