The recent measures adopted to attract the attention of homebuyers have spelt an important boost for the struggling construction sector in New South Wales. The recent state budget announced that the grant for first time buyers will be doubled to $15,000 while all other homebuyers will also receive a $5,000 grant. This step is likely to encourage property purchasing, giving the construction industry a lot to cheer for.
The latent housing sector in New South Wales has been causing significant losses to the economy and the people and these measures could ease the issue. Construction workers with a white card certification can look forward to increased activity in the state. The new state budget allocates $561 million to boost construction in the housing market, $481 million of which will be used for critical infrastructure measures around NSW.
Approximately $30 million will be invested in an infrastructure renewal scheme to assist new infrastructure worth over $1 billion. Local councils will also be provided with incentives of $50 million to set up essential infrastructure around the state. Owing to the high taxes in the state’s housing sector, the state has suffered in the past. However, these new incentives are expected to bring much needed relief to the construction industry, particularly to workers undergoing online training courses for white card and construction.