MEDIA STATEMENT: Mum and Dad investors ignored by nation’s peak building lobby group
Not sure what the nation’s peak building lobby group has against mum and dad investors (“Builders pitch for $5.1bn to avert corona ‘bloodbath’”) but the projected slump is likely to leave this group just as bloody as the residential and commercial construction sectors, with a similar multiplier effect. Nonetheless, Master Builders Australia’s pitch for $5.1bn in additional stimulus packages completely ignores the group and the significant role they play employing tradies and housing those hardest hit by economic hardship.
It was a devastating mistake to exclude this sector in the first wave of the HomeBuilder support and it’s another heavy blow to ignore them in the second, particularly given many are financially haemorrhaging from job losses and little-to-no rent coming in from their investments.
Let’s give these guys a break by making them eligible for the HomeBuilder grant to fund changes that can help pandemic proof their properties, and create cashflow for builders, higher yields for landlords and lower rents for tenants.