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Today’s lending indicators data for September from the ABS shows that construction mortgages have collapsed following the ending of the HomeBuilder subsidy in March:
Construction mortgages have fallen 54% from February’s peak.
That said, tradies should be kept busy by the home renovation boom, as evidenced by loans for alterations & additions rising a whopping 110% year-on-year:
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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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