Australian Property

Dwelling construction to remain stronger for longer

Leith van Onselen
Tuesday 6 July 2021
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The end of the Morrison Government’s HomeBuilder grant on 14 April 2021 is beginning to have an impact on the Australian dwelling construction market with approvals and construction loans falling in May.

Yesterday’s dwelling approvals data from the Australian Bureau of Statistics (ABS) reported a 7.1% decline in dwelling approvals in May, led by a 10.3% fall in detached house approvals:

Dwelling approvals

House approvals have peaked after HomeBuilder’s expiry.

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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.