Renovations the bane of HomeBuilder plan

Description

HomeBuilder will kick-start existing works that have been halted, but it is unlikely to result in new works (‘‘HomeBuilder could push house prices down’’, June 4).
Since a significant share of home improvements are typically funded by debt, failure to complete projects exposes banks to additional risk with homes not approved to be occupied.
It would have been a better economic stimulus if the $25,000 handout, instead of being aimed at renovations, was directed to building new homes, or reducing stamp duty or other transaction costs.