Briefing: Stimulus Works its Magic on Dwelling Approvals

Prepared by IndustryEdge, November 2020

(Including more analysis on timber supply)

In numbers to make a Treasurer happy, September’s dwelling approvals for Australia continued to surprise and delight. Total dwelling approvals for the month were up 16.6% on the prior month to 16,222 separate approvals. More is the point, compared to September 2019, approvals were up a strong 12.1% and the monthly numbers was the highest in twenty-three months.

In the midst of a crisis, when senior officials in Treasury are looking for a way to prime the pump of the domestic economy, the short to medium term go to is invariably the housing sector.

Little wonder there is a conga-line of Federal and State Treasurers eager to dole out the loot to the housing sector when the economy hits the skids. The sector responds so effectively to stimulus like that included in the Federal HomeBuilder program, that most States have chimed in with support of their own.

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