Home lending has surpassed more records this past January with the continued roll out of the HomeBuilder scheme according to Master Builders Australia.

The first month of 2021 saw almost 10,000 loans being made to owner occupiers for the construction of a new home.

“This represents a gain of some 20.3% on December 2020, a month whose reign as strongest on record hasn’t lasted too long,” Master Builders Australia chief economist Shane Garrett says.

“The strength of the market can also be seen in other lending streams. The number of loans for newly-erected homes reached an all-time high during January, having increased by 28.6 per cent over the previous 12 months.”

He adds that the value of home lending in January was also up 47.4% on the same month last year.

“The HomeBuilder scheme remains open until the end of March and this means that 2021 will be a busy year for residential building,” Shane says.