Economic recovery fuelled by HomeBuilder

Australian Treasury

The Australian Bureau of Statistics has today released data reconfirming the success of the Morrison Government’s HomeBuilder program.

The latest release of Construction Work Done indicates that Australia’s recovery is being driven by our tradies once again, with a record rise in detached housing and renovation numbers.

Minister for Housing Michael Sukkar welcomed the preliminary data.

“This near-record set of numbers is further proof that the Morrison Government’s plan for housing is working and underpinning Australia’s economic recovery,” Minister Sukkar said.

“Work undertaken in the construction industry across the states and territories for the March quarter is reaching near-record levels in the detached housing sector.

“Our HomeBuilder program has played a vital role in achieving this outcome. The fact that 146,000 housing starts are expected to be completed up to September 2021 is not only a fantastic result for this part of the housing sector but for jobs in construction as well.”

Housing Industry Association Economist Angela Lillicrap credited the HomeBuilder scheme for playing a role in the ABS results.

“HomeBuilder has been a key driver of this surge in activity but other factors are also significant. Record low interest rates and a change in preference towards detached housing are also important drivers,” Ms Lillicrap said.

The figures on detached housing and renovations come on top of the Australian Bureau of Statistics showing that construction work to the March quarter remained buoyant, rising 2.4 per cent.

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