Construction home loans crash back to earth

Friday 3 June 2022

Today’s housing finance data from the ABS showed that loans for new construction have collapsed from the HomeBuilder-induced peak.

As shown in the next chart, there were only 3,937 loans for construction in April 2022, down 60% from the 9,767 construction loans handed out in January 2021:

Boom to bust.

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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.