Labour and material shortages stretched the time to build a house from six to nine months, with construction costs up 10 per cent, a quarter of the 5.1 per cent consumer price rise. Intrapac's Max Shifman says builders cannot start for more than 12 months, and urges skilled migration.
As I told The Australian: “I'd say if you are looking to build a new home now, you are looking at over 12 months before builders are able to start work,”
I also said: “With so much happening on a global scale, and then you layer on the public works that are projected to last for decades, whatever cost escalation happens over the next few years could become the new normal,”
The Australian, 26 May 2022 — Read the full article