HIA<\/a> managing director Graham Wolfe said.
\nHIA estimates it could generate more than $15 billion in national economic activity.
\n\u201cMost importantly this incentive will support hundreds of thousands of jobs across Australia.
\n\u201cThe housing industry directly engages more than one million people \u2013 builders, trade contractors, designers, professional service providers and others.
\n\u201cIt provides jobs for many thousands more in the manufacturing and retail sectors, which supply the materials, products, white goods and furnishings that go into our homes.
\n\u201cThis incentive will help to address the projected decline in housing activity over the next 12 months.\u201d
\nLocal developer Villawood Properties also welcomed the $688 million HomeBuilder scheme.
\nVillawood executive director Rory Costelloe said that the developer had been finding a number of buyers had been holding back, waiting on rumours of an assistance package, so Villawood was was pleased it had been announced and looked forward to the extra demand it would create.
\n\u201cThis encourages jobs in the construction industry, which is the biggest employer in this state and the single biggest generator of tax revenue for the government.
\n\u201cThe challenge for the industry will be to provide enough titled stock to fit within the criteria of the grant.\u201d
\nThe HIA had predicted the supply of new houses could drop to as low as 111,000 in 2020\/21, rather than the 171,000 original predicted in February this year.
\n\u201cThis incentive will ensure that the significant contraction in new home building activity in 2020\/21 is not realised,\u201d Mr Wolfe said.
\n\u201cThe package will see slabs poured in the second half of the year, meaning jobs are kept and houses built.
\n\u201cStimulating home building activity has been an effective recovery catalyst in past economic shocks.
\n\u201cHIA is confident it can again support the national economy through this difficult period.
\n\u201cThe HomeBuilder incentive is the largest direct contribution to owner occupier housing construction that an Australian government has ever made.
\n\u201cToday\u2019s announcement reflects the importance of the home building industry and the role the industry
\nplays in generating jobs and economic activity.
\n\u201cHIA acknowledges the support of the federal government in delivering this important stimulus package.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The Housing Industry Association (HIA) is among many in the industry to welcome the announcement by the federal government to introduce a time limited, targeted new HomeBuilder package. HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder is proposed […]<\/p>\n
Read More…<\/a><\/p>\n","protected":false},"author":29,"featured_media":32675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-32674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nIndustry welcomes new HomeBuilder stimulus package - Bellarine Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/industry-welcomes-new-homebuilder-stimulus-package\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry welcomes new HomeBuilder stimulus package - Bellarine Times\" \/>\n<meta property=\"og:description\" content=\"The Housing Industry Association (HIA) is among many in the industry to welcome the announcement by the federal government to introduce a time limited, targeted new HomeBuilder package. 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