2 October 2020 

Master Builders Australia commends the Federal Government’s expansion of the First Home Loan Deposit Scheme.

Denita Wawn, CEO of Master Builders Australia said, “The scheme is a proven success story. Expanding it for new homes ticks all the right boxes to help us build our way to economic recovery.”

“Thousands of small builders and tradies are staring down the barrel of destruction. This move by the Government is going to help save jobs and keep businesses afloat,” she said.

“Boosting home ownership and residential building activity are among the most effective ways to fire up aggregate demand, which is exactly what we need right now,” Denita Wawn said.

“Helping people overcome the deposit gap so they can achieve home ownership is important now more than ever,” she said.

“It is the single most effective way of building financial security which is fundamental to people’s mental and physical wellbeing,” Denita Wawn said.

“Master Builders Australia called for the Government to make this move it in its Pre-Budget Submission and today’s announcement proves that they are listening,” she said.

“That’s because expanding this scheme, particularly when combined with HomeBuilder and less restrictive mortgage lending rules, can help the country build its way out of recession,” Denita Wawn said.

“Home building has the second largest multiplier effect in the economy through its supply chain. The building industry is deeply integrated into the economic fabric of this country, more building means more growth and more jobs,” Denita Wawn said.

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