However, it is clear that the time-limited nature of HomeBuilder and some other subsidies induced a temporary surge in building approvals for detached homes and renovations (Graph 6). We estimate that about one-quarter of building approvals during this period were supported by HomeBuilder, though many of these would have happened anyway.
Graph 6  Private Residential Building Approvals* Monthly ’000 Detached  12  ’000  New dwellings  12  8  8 Higher-density  4 $  4 $  Alterations & additions  1.0  1.0  $  0.8  0.8  0.6 0.4  0.6  $ 2014 * **  2016  2018  2020  2022  0.4  Smoothed lines are 13-period Henderson trends.