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New home lending hits record $24 billion in November – Sydney Morning Herald
Historic low interest rates, the $25,000 HomeBuilder grant and an improving national economy all saw home building soar in November, ABS data shows.
Housing Industry Association economist Angela Lillicrap said the federal government’s HomeBuilder grant for new home builders was the “catalyst” for improving consumer confidence.
The grant was due to end in December, but instead dropped to the lower rate of $15,000 for the first three months of the new year.
Ms Lillicrap said this would “see the strength in housing finance data extend into 2021”.
“It is evident in todays data that HomeBuilder has been successful in boosting confidence in the market…
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