Finish of HomeBuilder units the stage for extra housing inequality

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First-home patrons loved a short bonanza with the brand new development increase. However now asset-rich buyers are as soon as once more piling into the market.

(AAP Picture/Stefan Postles)

The federal government’s profitable HomeBuilder program helped drive housing funding to a report excessive, with mortgage commitments topping $30 billion in March, knowledge launched yesterday from the Australian Bureau of Statistics reveals.

However the finish of this system and surging home costs are setting the stage for a surge in housing inequity.

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In Could final yr housing lending was all the way down to $16 billion. In June the federal government introduced its HomeBuilder bundle for the development sector, and it has been wildly profitable: housing finance first returned to pre-pandemic ranges and by the ultimate quarter of 2020 was hitting all-time report highs.

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