The Western Australian (WA) Government has extended its Builders' Support Facility, aiming to expedite the completion of residential properties that have been under construction for extensive periods.
This initiative is part of an effort to address the construction delays that have impacted Western Australians awaiting their new homes.
In January this year, the state government introduced a A$10m ($6.73m) loan facility, offering interest-free loans up to A$300,000 to help eligible builders finish homes that have been under construction for over two years.
The initial phase of this programme saw A$5.7m allocated, assisting in the completion of 97 homes.
WA Premier Roger Cook: “More Western Australian families will have the opportunity to move into their completed homes sooner with this expanded and extended programme, providing much-needed relief to residential homebuilders and homeowners.
“This programme demonstrates how my government is helping ease pressure on our housing market and get more Western Australians, in building limbo, into their homes. I thank everyone involved in delivering this priority programme, which supports jobs and does what's right for WA.”
The second round of funding features revised criteria, including a requirement for builders to have been operating continuously in WA since 1 July 2020.
Additionally, builders must have at least one uncompleted home that began construction two years prior to the announcement of the second round.
Builders who received support in the first round are eligible to apply again as the scheme progresses into its second phase.
The upcoming application window for Round 2 will remain open for six weeks.
WA Treasurer Rita Saffioti said: “We know that some residential builders have experienced significant disruptions and delays in completing homes already under construction, particularly as the cost of fixed-term building contracts has increased significantly.
“This innovative Australian-first initiative is assisting in the completion of almost 100 homes and this extension will enable even more families to move into their homes sooner than they otherwise would have.”
