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On Tuesday, the Australian Bureau of Statistics (ABS) released construction and new home finance for August, which showed the pandemic building boom has turned bust.
The number of loans for the construction or purchase of new homes declined by 4.5% in August, to its lowest level since the March 2020 – the very first month of the pandemic in Australia:
From 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.
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