The scene is set for a home construction boom after a record number of Australians rushed to take advantage of the First Home Owners Boost in September before the scheme was wound back from October.
Borrowers who before September 30 entered into contracts to build homes were eligible for the $14,000 temporary First Home Owners Boost on top of the $7000 first home owner grant.
The Bureau of Statistics figures show lending to first home borrowers rose an extraordinary 86 per cent in the year to September, with lending for construction up 84 per cent.
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