Buyers need a boost
Cutbacks to home buyer assistance hitting construction sector
BRAD Evans has been building in Mackay for 25 years but cutbacks to financial assistance for first home buyers is threatening the future of his business.
With more than 100 people affected by his operation from direct staff to suppliers and contractors - the Gemini Homes director is concerned that the loss of the $5000 boost to the first home owner’s grant would place greater strain on prospective home buyers, and in turn, the workforce as a whole.
As a business which relies heavily on first home buyers, Mr Evans claims the cutback limits the opportunity for their clients to have the financial stability to gain an approved loan, saying the loss of this demographic was having a major impact on his operations.
“With that $5000 boost taken away, it’s harder for those first home owners to get approved for loans and obviously building can’t go ahead if they can’t get that loan,” he said.
“From our side of it, we build new homes so the more we can build the better for us.
“That (boost) being taken away and making it harder for people to get into the market affects our business directly because there’s a lot less work to be done”
“The last six years have been quite difficult to get through from a business point of view.”
Master Builder Mackay and Whitsunday regional manager Malcolm Hull said that the industry’s importance was widespread and the implications of fewer constructions in the region has a ripple effect throughout the community.
"The building and construction industry is the backbone of all regional economies,” Mr Hull said.
“Every person that works on a building site, we support five off that building site.
“That’s from the local coffee shop, to the person selling the fridges to the people selling the timber…there’s all of these people off that building site that are supported by the building industry itself.”