Construction mortgages bust, renos still booming

Monday, 1 November 2021

Today’s lending indicators data for September from the ABS shows that construction mortgages have collapsed following the ending of the HomeBuilder subsidy in March:

Construction mortgages have fallen 54% from February’s peak.

That said, tradies should be kept busy by the home renovation boom, as evidenced by loans for alterations & additions rising a whopping 110% year-on-year:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.