- A total $267 million will be used to boost Queensland’s building industry
- $100 million will be allocated to Works for Tradies program
- A total $106 million is set to generate purchases with first time homeowners
- And, 500 new building projects are expected to commence immediately to boost the sector
After what was almost a complete standstill in the building industry nationwide just a few short months ago during the peak of the pandemic, there is change on the horizon. Queensland premier Annastacia Palaszczuk has just announced a huge $267m boost to housing construction, first homeowners grants and regional home building as part of the Queensland’s second stage of the Unite and Recover plan.
With $100 million allocated towards the Works for Tradies program this stimulus is going to deliver much-needed jobs to electricians, plumbers, carpenters, bricklayers, concreters and landscapers. And for those tradies still in training a further $1.175 million has been allocated to upgrade existing TAFE campuses.
Eager new homeowners will benefit from the package with $106 million set to generate the much-needed activity amongst first-time homeowners once again. So new home purchases valued at less than $750,000 will see some cash and those buying homes in regional locations with a value under $750,000 will see an additional grant of $5000 as well. With an additional $10 million pledged to seniors to support home renovations such as repairs, maintenance and security work as home improvements, the construction sector is set to be back in business in no time.
It is expected that 500 new projects would have commenced by the end of September this year, and a further 500 projects by the years end. By mid-2021 a further 1000 new projects will also be in full swing. There has also been a push for contracts to be signed on 215 new social homes in the Gold Coast, Sunshine Coast, Cairns, Townsville, Mackay, Rockhampton, Gladstone, Morton Bay, Wide Bay, Toowoomba and Ipswich, all with expected commencement dates in 2021.
This multi-million-dollar state-wide incentive has followed after the federal government’s decision to fast track 15 large scale priority infrastructure projects by reducing approval time from an environmental standpoint. These projects alone are said to be worth over $72 billion. With this huge cash injection into the construction and infrastructure industries, Australia is likely going to look like a very different place as we enter into this post-pandemic recovery stage.