Markets

Australia spent $18.9 billion in just 3 months building and renovating homes, spurred on by HomeBuilder and rock-bottom interest rates

The value of new residential construction grew 5.1% to $18.9 billion in the March quarter, the Australian Bureau Of Statistics says. Expenditure on residential construction was 4.2% higher than the prior corresponding period, as homebuilders flocked into the market. Spending on non-residential construction lagged by comparison, falling 1.6% over the […]
Australia spent $18.9 billion in just 3 months building and renovating homes, spurred on by HomeBuilder and rock-bottom interest rates
Makes Cents

The government expects 27,000 Australians to eventually apply for HomeBuilder. A few weeks in, they’ve received 247 applications.

Treasury has revealed that several weeks into the HomeBuilder scheme, just 247 applications have been received. The government forecasts 27,000 Australians will eventually build or renovate their homes using the grants. While some states have not yet submitted data, it may suggest the scheme’s criteria remains too exclusive. Visit Business […]
The government expects 27,000 Australians to eventually apply for HomeBuilder. A few weeks in, they’ve received 247 applications.
Markets

Australians were already splurging on home improvements long before the government announced its HomeBuilder scheme, new data shows

Australian spending on home improvements and renovation has surged during the pandemic, according to consumer data analysed by Zip. The latest figures show the demand for tradespeople and things like security systems were already hot before the HomeBuilder scheme was announced. Meanwhile other businesses like pubs and bars that have […]
Australians were already splurging on home improvements long before the government announced its HomeBuilder scheme, new data shows