Construction generic. 20 FEB 2018
Construction generic. 20 FEB 2018 TREVOR VEALE

Rocky's million dollar package for new home builders

MORE detail has surfaced surrounding Rockhampton Regional Council's 'mystery incentives' proposal which was reported early this week.

Council sat yesterday to determine the terms of the incentives and will now offer over $1,000,000 worth of housing and rates discounts to local and non-locals, and added vouchers and club membership skilled workers planning on moving to Rockhampton.

This involves a $5000 new home builder's grant for contracts signed after 1 August 2019 with the home completed prior to March 31, 2021.

This grant will be available for existing residents of the RRC area and is "not specifically tied to being a first home buyers grant."

The tide has turned for rates, with the majority of experts predicting a cut within the next three months and another to come before year end.
Housing affordability issues mean incentives to build are becoming more common.

Rockhampton Region Mayor Margaret Strelow said the goal with the incentive was to increase the region's housing stock.

"This is a great opportunity for people who already live here and have been saving to buy a home or are wishing to upgrade or invest," Mayor Strelow said.

"There is no other industry like the housing industry for stimulating jobs and retail spending."

Up to 200 new homes will be eligible for the incentive and council hopes it will give much needed stimulus to local contractors.

"We believe that this investment for up to 200 homes will see our builders, plumbers, electricians and our white goods and furnishing retailers receive a much-needed boost," Cr Strelow said.

"But what it will also do is help to set our community up for population growth.

"Over the past three years our annual new builds have reduced by a half."

Cr Strelow said council was anticipating a housing boom as a result.

"We anticipate that this grant will trigger an increase in new houses of somewhere in the order of 50 per cent or more over the next 18 months."

 

Aussies borrowers might soon have access to bigger loans. Picture: iStock
Aussies borrowers might soon have access to bigger loans. Picture: iStock

Mayor Strelow said "the beauty of incentivising new houses" was that it provided a trigger for new subdivision and new rateable properties, adding feasibility to the incentives.

"We anticipate that there will be a positive return to the Council budget because of new rateable properties. Payback is over a five to seven year time-frame," she said.

"This incentive is also available to anyone who takes up a position in the resources sector and chooses the Rockhampton Region as their home."

Other incentives decided by council yesterday included school uniform vouchers, sporting club memberships, short and long term parking vouchers for the Rockhampton Airport and rates discounts for skilled workers moving to town.

"At the expiration of 12 months, there will be a once-off additional discount of 20 per cent on rates to encourage new resource sector residents to consider home ownership."

Mayor Strelow said that it was important to see these incentives in the context of a wide range of activities which have been undertaken by Council in the past two years.

"These activities have included working with our current business community to help equip them to make better use of the opportunities being offered and working closely with the State Government to identify training that is needed for locals who are wishing to move into the mining sector," Cr Strelow said.