Day: February 1, 2021

‘Just enormous’: Victorians sign $1bn of home construction loans in December

Melbourne is facing a massive year of construction in 2021. Picture: Stefan Postles

Victorians have made a $1bn bet the state can build its way out of economic turmoil.

The state’s new-home buyers committed to a whopping $1.166bn in new housing construction loans in December 2020, becoming the first state to top the $1bn mark in a month, according to Australian Bureau of Statistics figures.

The nation’s data bureau also revealed the state figure for the final three months for 2020 is almost $3bn.

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