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December’s new home sales data from the Housing Industry Association (HIA) blew the roof off, with sales nearly doubling from November:
Yesterday’s new home finance data from the Australian Bureau of Statistics (ABS) reported similar explosive growth, with construction finance commitments surging by 122% year-on-year in December to unprecedented levels:
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As noted by the HIA:
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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.
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