With the federal government injecting $688 million into the home building industry, Hotondo Homes says it's a win-win for Griffith's residential construction industry and for first home buyers.
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Amongst stimulus measures announced in the federal government's budget last week, eligible first home buyers considering building have been given a boost. The government's HomeBuilder scheme will provide cash grants of $25 000 to those wishing to build their first home.
Robert Nascimben, sales manager at Hotondo Homes in Griffith says that they've seen increased interest over the past week with people looking into the new possibilities for building their first home.
"There are a lot of enquiries for first home buyers at the moment," Mr Nascimben said.
Despite 2020 being a year of economic woes for much of the Australian economy, the COVID pandemic has not slowed business for Hotondo Homes, particularly in Griffith.
"When COVID first hit and NSW went into lockdown, online enquiries were quite high," Mr Nascimben said.
"Then when the federal government announced the $25 000 stimulus, we have received more still."
Mr Nascimben explained that currently the large majority of their enquiries are from first home buyers weighing up their options to build.
"There are a lot of new blocks coming up on the market and Griffith hasn't seemed to slow down with demand," Mr Nascimben said.
"It's actually been quite busy for the last 18 months or so here.
"Griffith is pretty lucky. It's driven by a lot of employment opportunities." Mr Nascimben said.
However, there are a number of restrictions to the stimulus measures; for example new builds can't exceed $750,000. There are also income thresholds which immediately exclude a number of lower income households and individuals from accessing the HomeBuilder scheme.
But Mr Nascimben is optimistic for what this means for Griffith's residential construction industry saying these measures will benefit more than just home builders.
"This is great for the local economy because it's not just the trades people who are busy, it's also the suppliers and employment opportunities for locals as well," Mr Nascimben added.
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Kat is a former English teacher to international students and has taught all over the world. She is beginning a new career as a journalist with the Area News. Got something you want to chat about? She's all ears.
Kat is a former English teacher to international students and has taught all over the world. She is beginning a new career as a journalist with the Area News. Got something you want to chat about? She's all ears.
