Latest figures from Master Builders Australia show that HomeBuilder is helping drive our COVID-19 recovery by pulling Australia’s economy forward and creating real and tangible employment for tradies.
The construction and trades industries are one of the largest employers on the Mornington Peninsula, with almost 15% of the local community employed in the sector.
Despite the COVID-19 pandemic, the September 2020 quarter saw a 4.8% increase the number of detached house approvals in the electorate of Flinders, when compared with the same time last year.
Federal Member for Flinders, the Hon. Greg Hunt MP, said the national and local figures show the housing economy is recovering strongly.
“With 14.5% of Mornington Peninsula residents employed in the building and construction industry and over 4,000 running small businesses in the sector, it is important that this sector comes back strongly,” Minister Hunt said.
“Locally, we have had a nearly five percent increase in detached housing approvals in Flinders, with similar growth across the nation. This ensures our local tradies have the work they need, while building new homes for the future.”
“HomeBuilder is delivering for Australia’s tradies and home buyers, which is driving stimulus in the economy at a time it is needed most.”
In addition, the Housing Industry Association (HIA) New Home Sales Report for October 2020 shows new home sales nationally were 31.6 per cent higher in the three months to October 2020 when compared with the same time last year.
HomeBuilder and key other elements of the Morrison Government’s Economic Recovery Plan were identified as key drivers in improved buyer confidence.
HIA Chief Economist Tim Reardon said this month;
“The detached housing market continues to perform strongly and as it accelerates will pull the rest of the Australian economy forward into 2021.”
“HomeBuilder was the catalyst for improving consumer confidence in the housing market. The strength of the market response is due to several factors in addition to HomeBuilder.”
“Lower interest rates and fiscal stimulus, such as JobKeeper, have also seen households more willing to spend on housing.”The statistics show HomeBuilder is achieving exactly what it was designed to do. It is igniting the construction industry and helping to protect jobs right across the sector.”
The statistics show HomeBuilder is achieving exactly what it was designed to do. It is igniting the construction industry and helping to protect jobs right across the sector.