The new HomeBuilder program is shaping up to be a real bonus in terms of supporting jobs in not only the residential construction sector, but through the broader economy. According to a June 2020 report on residential construction by the National Housing Finance and Investment Corporation, every house built generates an average of three jobs and for every $1M spent, 9 jobs are created, making it the second-largest economic multiplier of any Australian industry.
Having now observed Metricon Homes offering an additional $40,000 to those purchasing their Designer Series homes, it’s got me thinking, what else can our Government do to stimulate the economy? One idea (that I’m sure others have thought of) is why not offer financial incentives for Australian expats living overseas and with in-demand skill-sets to return home. Let’s say free repatriation costs for the high volumes of Doctors, Nurses, IT workers and other Australian skill-shortage vocations who are based on foreign shores, now considering a return home.
Surely this would be a great investment for our country and help solve two problems: filling essential jobs and assisting Australia to offset any downturn in migration due to C19. With the influx of potentially tens of thousands of people back to our shores, the biggest problem we’ll have is how to house them.