Victoria's roadmap out of lockdown initially required 80% of people over 16 to have received a double dose before home renovations could resume. 

With the roadmap revised to a 70% rate, that milestone is now estimated to be hit by October 26.

However on Wednesday, Victoria's Chief Health Officer Brett Sutton said there was 'every chance' lockdowns would be lifted by October 22. 

"If we can go faster then there's open consideration for lifting lockdown, we're on track to hit the 70% mark earlier," he said. 

Mr Sutton said an announcement on the end of lockdowns would likely be made this weekend. 

Home renovations set to resume

Lifting of lockdowns in Victoria would mean home renovations can recommence, coming as welcome news to construction companies and home builders.

Housing Industry Association (HIA) Victorian Executive Director Fiona Nield said the reopening of renovations ahead of schedule will provide a much needed boost to the industry. 

“The Government announcement of the reopening of renovations in occupied homes at the 70% double dose vaccination milestone instead of 80% milestone is extremely welcome news for the many thousands of builders and their trades waiting to get back to work," Ms Nield said.

“There are thousands of small building businesses that have been unable to work during the lockdowns, both this year and last year, and this has caused great financial hardship.

“There have also been many families who have been living with partially completed building work in their homes.

“This news will provide welcome relief for all - builders, trades and home owners."  

HIA also said this will include works outside homes, allowing landscaping, painting and other outdoor projects to resume. 

“Including maintenance works in this announcement will also allow for many builders to undertake scheduled maintenance works at recently occupied homes, where a backlog has been created in the last few months”, Ms Nield said.

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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
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$250
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5.69% p.a.
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Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Image by Immo-renovation via Unsplash



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