HomeBuilder drives massive boom in construction

According to The AFR, “borrowing for housing construction is 75 per cent higher than July, after the federal government introduced the HomeBuilder grants in response to COVID-19 and other home building grants offered by state governments”:

Finance approvals for housing construction reached new highs, which Goldman Sachs economist Andrew Boak said “bodes well for the outlook for building approvals and residential investment over the coming quarters”.

The data speaks for itself.

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