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The unprecedented boom in new home sales has ended following the expiry of the Morrison Government’s HomeBuilder subsidy at the end of March.
According to new data released by the Housing Industry Association (HIA), new home sales have roughly halved from March and are tracking way below the December peak (when HomeBuilder subsidies were initially reduced):
New home sales have fallen sharply post HomeBuilder.
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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.