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Housing construction costs and completion times have blown out – can this be fixed?
Manage episode 452342565 series 3589562
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New data from the Australian Bureau of Statistics suggests that the Federal Government's 2020 HomeBuilder scheme helped to super charge demand for the construction sector, at a time when demand was already high with low interest rates.
This, along with material and skills shortages, has helped to drive up construction costs, and ABS data shows that the time to complete houses has blown out. At the same time, many construction businesses have gone bust, leaving consumers with half-finished homes.
As new Federal Government initiatives seek to increase the stock of housing nationally, have we learnt from past mistakes? And do we need more consumer protections against construction insolvencies?
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