WA - total 45k grant for new builds - market impact

I think we're seeing that in the demand for land of late. Many people dont realise that they have to have titles and construction organised super quick to qualify for the grants.

As land becomes scarce and delays for construction increase, will we see upward pressure on establish housing prices?

 

I'm not sure about Perth, but I can tell you here in QLD we're effectively about to run out of land...! Sounds like it would be even worse over there with even more money!

The extra $25k alone has sent demand through the roof. Everyone is pedal to the metal trying to make hay while the sun shines, but we're all concerned about interest falling through the floor as soon as the grant ends.

 

Not sure how it works, I have a 3 unit site will sign build contract by December as long as I start build within 6 months after signing will get the grant. However only $20,000 not $60,000 (only for one site one title not 3). I wont have 3 titles due to timeframe

Hope this makes sense

 

It appears from advice from the OSR in Perth that the $20k state grant isn't as clear cut about titles as originally though. They will allow it for built strata but the grant will be paid at the end not on slab down.

So potentially some multi sites purchased now may still get multiple lots of grants BUT as it still hasn't gone through parliament I wouldn't be buying something merely for grants but thinking of them as a bonus if you get them.

 

I'm fairly sure it is 3months for the federal grant.

 

In WA they have negotiated that the timelines can be up to 6mths to line up with the State grant. It was lobbied that 3mths was not long enough for approvals/get to site so it is likely that the paperwork will still say 3mths but a 3mth extension for various reasons will be allowed.

 

? at the end of the day if the numbers stack up without grants this is what matters

Its a win if I get it but it wont break the deal if I dont

 

I see, hopefully this is adopted in NSW as well, 3 months is pushing it.

I'll be advertising my block with DA Approved plans, and the land is registered, hoping to offload it first up, and if I can't I'll go ahead with the build myself.

 

Could anyone give me an idea of price to build this on battle axe flat block with A1 Sand site classification. There is about 32 square meter drive way + around 40 square meter around the house to pave and rest coloured concrete as shown on plan. Overhead cupboards and stone bench tops everywhere with waterfall 40mm edge to kitchen and bathrooms, 20mm to laundary and alfresco.

 

Maybe $250-275k? That's a pretty rough guess though.

 

Building only? Or site costs as well?

 

Thanks! Getting some quotes now, when I compare my quotes to big builders new builds they seem overpriced that made me doubt myself.

 

Custom builds are alot more expensive than volume builders designs.

 

Thanks, yeah should consider that.

 

As a point of reference, i'm looking at building a volume builder home atm, the $/m2 is ~$880 for very basic finish, 217m2 4/2/2 with a media room, carpet and tiles, $191k with an upgraded fascade.

 

Your quotes are too high or the volume builders are too high?
Your house is very different to what a volume builder 4 x 2 will cost as you have building on boundary, more complicated roof lines, more external walls (due to it's L shape), longer trenching due to it being a rear block, access track may need to be created, flat blocks aren't always flat and I spy a number of items like recessed ceilings, alfresco kitchen, stonework which may send the price even higher.

 

My quotes seem too high when compared to $/m2 with project builders, as you stated above it has reasons to be expensive. Planning to go for tile cladding instead of actual stone for feature at front to save some $’s. I will get couple of more quotes and finalise one soon.

 

Just for a curiosity, are you building in WA or NSW??

 

Sorry, NSW, Hunter Valley

 

How much are the quotes coming in at the moment?