The federal government is extending the Home Builder program for another three months and raise price caps for homes in Victoria and New South Wales to reflect higher property values in those states.
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| HomeBuilder program criteria |
Contracts signed between 4 June and 31 December 2020 (inclusive) |
Contracts signed between 1 January and 31 March 2021 (inclusive) |
|---|---|---|
| Grant amount (new builds and substantial renovations) |
$25,000 | $15,000 |
| Construction commencement timeframe |
Construction must commence within 18 months of the contract being signed. | |
| New build price cap | Property value cannot exceed $750,000 |
Property value cannot exceed
|
| Substantial renovation price cap |
The value of the property cannot exceed $1.5 million (pre renovation). | |
| Application deadline | Applications must be submitted to the relevant State Revenue Office by 14 April 2021. |
|
| Licensing requirements for builders/developers |
|
|
| Other eligibility criteria | Existing program eligibility criteria remains. | |