The Federal Government has stepped in to try to alleviate the price pressure on builders from an Australia-wide shortage of timber. It has announced $15 million to help supply enough timber to build 10,000 new homes.
The funds will be used to subsidise the transport of salvaged timber from plantations on fire ravaged Kangaroo Island to timber mills in South Australia and other states.
Master Builders Australia CEO Denita Wawn says the move will be a big relief for builders, tradies and customers, who have been hamstrung by the shortage. She says thousands of builders and tradies feared for their jobs as a result of the surge in timber prices and delays of up to three months.
“This move is a ‘no-brainer’ that will underpin the continued success of the HomeBuilder scheme that is fulfilling the dreams of first home ownership for thousands of people and playing a major role in accelerating economic recovery as we begin to look to the future beyond Covid lockdowns,” she says. New Home Sales Continue To Rise
New home sales have increased in the past month, despite the completion of the Federal Government’s HomeBuilder scheme and a nationwide shortage of timber.
The latest Housing Industry Association figures show new home sales rose 5.8% in August to 4,917, up from 4,646 in July. HIA economist Tom Devitt says the strength of recent new home sale shows means that the current construction boom