The perfect storm is building for a dramatic slump in buyer demand at the end of the year
due to the pull-forward effect of the existing HomeBuilder deadlines.
Based on current demand, eligible titled and near-titled lots will run out in November.
A minimum six month extension on HomeBuilder contract and build deadlines will enable developers to get more eligible stock to market, taking pressure off buyers impacted by job security concerns.
It will allow for the realistic delivery of new builds, keeping the sizable construction workforce in continued employment and protecting the industry’s vast economic multiplier effect on the economy.
Tempering demand will also lessen the inevitable impact of record low levels of migration.
As the COVID storm hopefully begins to break toward the end of the year, an extension on HomeBuilder could be the catalyst to steer our industry through steady as she goes.