With the onset of Covid-19 as a worldwide pandemic, the development and construction industry faced uncertainty about its immediate future. Confidence was initially down with projections being scaled back to account for the potential slowdown. With the introduction of the Federal Government’s HomeBuilder, the industry bounced back significantly, with development in South-East Queensland struggling to keep up with the increased demand as first home buyers and renovators took advantage of the generous subsidies to enter the property market.
As of 29 January 2021 figures show that there were 81,917 applicants for HomeBuilder, 18,124 of which were in Queensland. At Norris Clarke & O’Brien, we have had a front-row seat to the programme’s success. Newport Estate development by Stockland experienced a significant surge in sales as purchasers jumped to take advantage of the new land releases. Stockland, Australia’s largest residential developer, prides themselves on their affordable master-planned communities, making it an ideal option for HomeBuilder grantees.
As well as new home builds, there has been a significant increase in surveying and town planning needs by architects in South-East Queensland. With HomeBuilder‘s incentives for renovations, the returning certainty to the housing market and opportunity to increase equity while getting long put-off renovations completed has increased the liveability for many a homeowner in SEQ. Norris Clarke & O’Brien’s attention to detail, and accurate and thorough surveys, has made it an ideal and trusted source for our architects with both new and long-standing associations.
[Source https://treasury.gov.au/coronavirus/homebuilder]
[Source https://www.stockland.com.au/residential/qld/newport/news-and-events/homebuilder-scheme]