The WA Government will give more Western Australians the opportunity to access the highly successful Building Bonus program, by giving homebuilders more time to commence site works to qualify for the $20,000 grant.
The extension of the construction period will ensure the pipeline of construction work generated as a result of the program will continue through to 2022, creating hundreds of additional jobs.
The Building Bonus grants are available to any homebuyer who signs a contract by December 31, 2020 to build a new house or purchase a new property in a single-tier development (such as a townhouse) prior to completion of construction.
Under the existing arrangements, site excavation works to build a new home must start within six months of contracts being signed in order to be eligible for the grant.
Due to the high demand for the grants, industry and homebuyers have expressed concerns that six months is not enough time to commence construction, given the demand for construction work off the back of the Building Bonus.
The WA Government will now give homebuyers who wish to build a new home a period of one year from the time their contract is signed to commence construction.
The $147 million Building Bonus program was introduced in June 2020.
Source: WA Government