MASTER Builders is advising that consumers be quick to access the state government's Building Boost Grant.
Master Builders Executive Director Graham Cuthbert said people wanting to apply for the grant should do it sooner rather than later.
Waiting until January to start discussions about your new home could mean disappointment for anyone looking to apply for the boost.
"If you want to have a new home built and be eligible for the boost, you must have a contract signed by January 31, 2012," Mr Cuthbert said.
"With Christmas and New Year between now and then, it probably seems like you have plenty of time to contact a builder to commence discussions. However, the reality is quite different.
"To get to a stage where a firm price contract can be prepared, there is a lot that has to happen, and this process can take a number of weeks.
"To date, the boost has not had a significant impact on the building industry and, while there are several issues at play, we believe many people are leaving things to the new year, with the mistaken belief that starting the process early in January will give them time to get a contract signed by the deadline.
"Consumer confidence is certainly another issue that is impacting the number of applications for the boost, and we have recently learnt of an emerging problem that is seeing low valuations causing some new home contracts to crash.
"In the meantime, our message to anyone wanting to apply for the boost is clear - do not wait until the new year to contact a builder, as you may be sorely disappointed when they cannot deliver a contract by the deadline."
Master Builders recently launched a new online search facility to help home owners find builders - www.buildwithamasterbuilder.com.au.