In the race for talent and materials in Australia’s construction game, housing has consistently run in second place to the infrastructure sector.
The 2500-lot project is a long way from completion because the early stages of levelling, road construction and installation of infrastructure has become slower and costlier.
That’s costing the country new homes. New figures from the Housing Industry Association will show cost pressures – particularly in labour and concrete – will delay an expected pick-up in the development of high-rise apartment building projects “by at least 12 months”. Victorian Treasurer Tim Pallas expressed the same hope last week when he cut almost $9 billion from the state’s infrastructure spend over the forecast period of its 2025 budget.
“It’s not as if it’s going to stop tomorrow, and we’ll have thousands of workers. That’s not going to happen.” “Short term, that’s the biggest impediment,” Cacho says. “What need to sell a project just does not line up with what buyers are willing or able to pay.”International Monetary Fund warned that the country’s infrastructure boom
The latest official figures show inflation remains a problem when it comes to the input costs of materials used in housing, as well as non-residential construction. The capacity of the construction industry generally – both commercial and residential businesses – is further harmed by soaring insolvencies pushing established players out of business.
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