Bundy Homes director Michael Randall thinks the building industry outlook is great thanks to rate cuts and grant extensions.
Bundy Homes director Michael Randall thinks the building industry outlook is great thanks to rate cuts and grant extensions. Scottie Simmonds

Building boom predicted for 2012

BUNDABERG'S struggling building industry hopes to turn 2012 into a boom year, thanks to rates cuts and an extension to the $10,000 Queensland Building Boost scheme.

Bundy Homes director Michael Randall said he was thrilled to hear the boost had just been extended by three months.

"The year is looking a whole lot better after this announcement about the building boost increase," Mr Randall said.

He said the boost extension, combined with two recent rates cuts, was good news for builders and buyers alike.

"Last year was challenging, but it wasn't a disaster," he said.

"The rates cuts have made quite a difference."

Mr Randall said the government boosts, which includes $10,000 for buying or building a home or $17,000 for buying or building a new first home, had been popular in the Bundaberg area.

"It has certainly caused an increase in activity out there," he said.

"We have quite a number (of homes) to start and I think it can only get better in light of (the building boost) announcement."

Kleidon Master Built Homes owners Dianne and Brett Kleidon are also looking forward to a big year.

"Our outlook for the beginning of the year is very busy," Mrs Kleidon said.

"We've had an influx of people wanting to get the plans finalised before the building boost runs out."

She said the first six months of their calendar were already heavily scheduled with jobs.

Mrs Kleidon said despite reports of doom and gloom in the industry last year, Kleidon Master Built Homes had bucked the trend.

"We had one of our busiest years last year, but the news they have extended the boost is relieving," she said.

A Queensland Government spokesman said more than 10,000 applications for the boost had been made in Queensland since it was introduced in August, with 235 of those in the Wide Bay-Burnett.

The Housing Industry Association said the boost extension was an important shot in the arm for builders.

"The extension of the boost will help the home building industry to gather some momentum and build on the early signs of recovery late last year," HIA spokesman Stuart Collins said

"The boost had played a part in rekindling interest in building a home.

"Combined with the lift in affordability from lower interest rates and fierce competition among builders, it has made it a great time for building a new home."

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