According to The Australian Financial Review, the federal government is likely to intervene to boost an apartment sector that did not enjoy the benefits of HomeBuilder but which is likely to suffer a hit from the loss of foreign migrants and international students, Housing Minister Michael Sukkar said.
The government’s $2.5 billion program – which contributed $25,000, and then $15,000 in its pared-back form, to complying new home builds and renovations – focused on detached housing because of the need to inject stimulus quickly into the economy, but this did not mean the apartment sector had been overlooked, Mr Sukkar said.
“It’s very exposed to factors such as international students and migration. There is no doubt we will have to respond with apartments.”
He declined to give any detail, but Treasurer Josh Frydenberg this week paved the way for the May 11 federal budget to be a big-spending affair.
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