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Australia s building sector is bearing the brunt of a perfect storm of events, with near-record new home approvals putting intense pressure on supply chains and sparking construction delays.
Key points:
More than 93,000 Australians are taking up the federal government s HomeBuilder grants
But new home builders are waiting for months due to construction delays fueled by product and trade shortages
The application deadline for the federal government s HomeBuilder grant ends on April 14
December 2020 has seen 13,527 new homes approved, the Housing Industry Australia (HIA) said, which is a 91.8 per cent jump on the previous month and the second strongest pace of growth in 20 years of records.