Member Survey Results in Support of UDIA’s HomeBuilder 2.0 Submission
UDIA National has today unveiled a new industry survey designed to support an extension and re-design of HomeBuilder given the extended economic downturn facing Australia as a result of COVID-19.
In September, UDIA lodged a submission with the Commonwealth Government – entitled HomeBuilder Mark 2 – making the case for its extension to tap the capacity for residual domestic demand to support economic recovery until net overseas migration and population growth return.
We briefed the office of the Assistant Treasurer and Minister for Housing, Michael Sukkar, and committed to seeking more ‘real time’ on how HomeBuilder was influencing housing construction pipelines, as well as the trajectory into 2021 if it ended.
The industry survey commissioned via our state divisions – representing a robust mix of developers and builders across the nation – clearly illustrates HomeBuilder has worked to boost new home construction, jobs and activity across supply chains.
However, the results also show there is a real risk that approvals, new home starts and the associated economic activity will slow in 2021 absent an extension and redesign of HomeBuilder.
UDIA National will continue its advocacy as the Government moves towards a decision on the future of HomeBuilder.