Over December 2020, a rush of buyers took advantage of the grant with the uptake doubling compared to the previous three months.
The frenzy was recorded in the HIA New Home Sales report, HIA economist Angela Lillicrap said “This is the second strongest month of new home sales in the 20-year history of the survey, only exceeded by March 2001”.
Need less to say, this activity will be a significant boost to the construction industry for 2021.
In November, the federal government announced a three-month extension to the HomeBuilder program, at the same time, the value of the stimulus payments was cut to $15,000 from $25,000. The deadline to access the full grant was December 31.
Overall, new home sales in 2020 increased by 32.5 per cent on the year before.
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