Within the next five years, grow Powerhouse Homes into a $1 billion annual revenue prefab home manufacturing company, that specializes in producing highly innovative and environmentally sustainable quality modular houses for wholesale to governments, builders and developers,mining industry and retail sale to anyone who needs a home.
Deteriorating affordability for the first home buyers
Affordable housing remains out of reach for many first home buyers as interest rates continue to buoy mortgage repayments (survey by The Housing Industry Association-Commonwealth Bank of Australia, August 08’ )
First home buyer affordability index rose just 0.4 per cent in the June quarter to 105.3 index points
Mortgage repayments accounted for 28.5 per cent of total first home buyer disposable income, the second highest proportion on record
Affordability deteriorated in Sydney, Melbourne, Adelaide, Hobart, Regional Queensland and Regional South Australia over the last quarter of 2008
Governments’ stimulus packages to boost the economy
In December 2008, the Government announced $10 billion injection of funds, aimed at improving housing affordability
In February 2009, the Government announced a $6.4billon housing recovery plan, aimed at boosting the supply of new housing for both the public and community housing sector.
The $2.2 billion of initiatives in the 2008 budget and the $1.5 billion for the First Home Owner Boost announced as part of the Government ’s Economic Security Strategy in October 2009.
Victoria government has, in February 2009, allocated $28 million Market Validation Program as part of its $300 million innovation initiative to SMEs capable of designing and delivering technological solutions.