The Morrison government claims to have put more than 300,000 adult Australians into new homes.
Australia news, NRI Herald - 23 Nov 2021
The Morrison government claims to have put more than 300,000 adult Australians into new homes since the outbreak of the pandemic under its signature housing policies – with the demand for government grants having outstripped Treasury’s forecasts by more than 400 per cent.
As per the report published by The Australian, According to data released by the federal government, more than 112,000 grants were approved for new homes under the HomeBuilder scheme introduced last year to support the construction industry during lockdowns.
The Master Builders Association estimates about 225,000 adult Australians had benefited by being put into new homes. Another 59,000 had gained entry into the market under home guarantee schemes, including the First Home Loan Deposit Scheme, New Home Guarantee and the Family Home Guarantee; 22,000 under the First Home Super Saver scheme; and 13,000 into affordable housing.
New home buyers are on rise in Australia
Previously, Australian Bureau of statistics also released Key statistics of dwellings commences and total building work done during June Quarter:
In seasonally adjusted terms in the June quarter:
Total dwelling unit commencements rose 23.2% to 64,596 dwellings.
New private sector house commencements rose 13.7% to 40,820 dwellings.
New private sector other residential commencements rose 47.5% to 22,515 dwellings.
The value of total building work done fell -0.2% to $30.3b.
The total number of grants approved under the $25,000 and $15,000 HomeBuilder scheme – for new home builds and major renovations – has reached 137,578. This is more than four times higher than Treasury had forecast when the initial $1bn scheme was introduced mid-last year. Of those grants, 112,000 were for new home builds with the remainder being approved for renovations.