The end of the Morrison Government’s HomeBuilder grant on 14 April 2021 has failed to dampen new home sales, which “jumped 15.3 per cent to be 11.2 per cent higher in the quarter than the same time in 2019”, according to HIA Economist Angela Lillicrap:
“The strength of new home sales nationally suggests that there will be a significant number of new homes entering the pipeline post HomeBuilder which will ensure activity remains elevated into 2022,” added Ms Lillicrap.
“Sales in the June 2021 quarter are below the levels experienced during the nine months of the HomeBuilder program but are stronger than the same quarter in 2019. Sales are also on par with the June 2018 quarter, which was a strong year for detached home building.
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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.
