Treasurer Josh Frydenberg has hinted that the government’s HomeBuilder scheme could be extended. The $25,000 HomeBuilder grants for eligible new home builds and renovations requires construction to start within three months of signing the contract. But the short timeframe has raised concerns about a logjam of work, prompting South Australian Treasurer Rob Lucas and industry groups to call for an extension. Mr Frydenberg on Friday revealed the “various parameters of the program and the timing” were under consideration. “We are continuing to reassess the program recognising it’s been an enormous success,” Mr Frydenberg said. “It’s done exactly what we wanted it to do. “It’s igniting the constr
Brisbane is preparing to add a spate of new major development projects to its ever-changing skyline. Australia’s third-largest city recently welcomed the completion of the $1.1 billion second runway at the Brisbane International Airport and has been boosted by a now-$50 billion infrastructure and transport pipeline. The city is also lining up an Olympic bid. While Brisbane’s infrastructure backlog has finally started to move, the Queensland capital is still coming to terms with a stagnant apartment market. The city’s resources-dependent economy has been thriving in recent years with rental growth across the commercial sector growling steadily within the A-grade asset class. Despite the incre
The Reserve Bank is urging major banks to use their buffers to keep lending to support business and developers following the largest economic contraction since World War II. The Financial Stability Review showed banks’ share-to-price book ratios have recovered from March but they are still below pre-pandemic levels “reflecting a decline in the earnings outlook and a reduction in investors’ risk appetite”. Although banks may want to maintain capital buffers, reducing credit would have a significant impact on the economy according to the RBA. According to stress test simulations in the report showed banks have sensitivity to falls in GDP, property prices and unemployment. Despite this uncertai
The City of Logan continues to strengthen its position as an industrial powerhouse in south-east Queensland, attracting more than $1.7 billion of national and international investment during the last 18 months. Despite challenging global economic conditions, Logan’s industrial sectors have continued to push forward—building approvals have far exceeded the previous financial year, with more than double gross floor area approved in 2019-20. Businesses in the transport and logistics, manufacturing and construction industries are key drivers in the local economy, generating $8.3 billion in revenue annually and creating almost one in three local jobs. Located between the Queensland cities of Bris
