50k Grant

Discussion in 'Where to Buy' started by SYDSR, 26th May, 2020.

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  1. SYDSR

    SYDSR Member

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    Hi All ,

    I heard there is a proposal for 50k grant for new builds.

    Is there any news or movement on the proposal .

    When we will know any updates on this .

    I am in the process of signing a contract to build a house and would like to wait due to overall market effect now .

    Thanks
    SYD.
     
  2. My House QLD

    My House QLD Well-Known Member Business Member

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    Which state are you building the new house? I heard Queensland are proposing the 50k grant on new property.
     
  3. euro73

    euro73 Well-Known Member Business Member

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    Crazy stuff... all it will do is drive prices up by 50K.

    https://www.smh.com.au/politics/fed...o-kickstart-construction-20200526-p54wkr.html

    They would be far better off spending this money on tax credits to incentivise investors to build new dwellings. ie NRAS 2.0 or something along those lines. It would get the same amount construction work happening, but it would be spent over several years rather than in one lump sum, reducing the immediate hit on the budget... and it would create additional, badly needed affordable accommodation at the same time.

    What a nonsense this will be. Can you imagine what the coalition would have said if Rudd had tried this during the GFC? He was attacked relentlessly for a 21K grant. They are considering/proposing 50K if this leak is to be believed .
     
    Last edited: 27th May, 2020
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  4. SYDSR

    SYDSR Member

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    I am building in NSW
     
  5. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Is this the $50K grant - new home builders scheme, mentioned here:
    $50k new home builders scheme | realestateview.com.au

    Just between you and me, I don’t think this will see the light of day. It is a proposal put forward by the Property Council of Australia. Braver men and women in the various state Real Estate Institutes have been lobbying their state governments to drop stamp duty on real estate transactions for as long as I can remember – and to date still have not been successful.

    I hope I’m wrong, but that’s my 2c worth :(
     
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  6. Tom Rivera

    Tom Rivera Property Manager Business Member

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    I tend to agree- I think the media just caught onto a pipedream and gave it too much air time.
     
  7. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Builders and developers will most likely take advantage of this $50k grant by jacking up their prices.

    Hopefully they will prove me wrong.
     
  8. Tom Rivera

    Tom Rivera Property Manager Business Member

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    I'm hoping so too! If all the other builders jack their prices up, we can undercut them ;)