The Morrison Government’s HomeBuilder subsidy, which gives up to $25,000 to eligible households to build or substantially renovate their homes, has ignited a massive surge of enquiries from first home buyers for house and land packages, according new data from property analyst Cameron Kusher:
Email enquiries to residential agents on realestate.com.au hit a record high in June, increasing by 11.2 per cent following a 36.6 per cent increase in May. Year-on-year, total email enquiries to agents has doubled.
A closer look at the data shows part of this growth can be attributed to a surging interest in vacant land on the back of the Federal Government’s Homebuilder stimulus announcement.