Last week, the Western Australian Government piled in behind Scott Morrison’s HomeBuilder program, offering a $20,000 non-means tested subsidy to all purchasers of a newly constructed dwellings. Along with other available subsidies, this meant that first home buyers could ‘save’ around $60,000 on the cost of a new home, broken down as follows:
- $25,000 HomeBuilder;
- $20,000 Building Bonus;
- $5,000 Stamp duty concession; and
- if you’re a first home owner, another $10,000.
Now a developer has been caught inflating the cost of a house and land package.
Here’s the original ad:
And here’s the revised ad:
You can read the full ad here, which has mysteriously been updated.
That’s a neat $30,000 to $60,000 (depending on which ad you read) added to the developer’s price courtesy of taxpayers.
Just more confirmation that governments are more concerned with helping their developer mates than actually improving housing affordability.
