A surge in the cost of construction materials shows no sign of ending, as supply chain shortages and soaring prices for key inputs including fuel and electricity feed into the property market.
Costs are going up at a similar rate across the country, with prices growing by 2.5 per cent in the June quarter in both NSW and Victoria, 2.3 per cent in Queensland and Western Australia and by 2.2 per cent in South Australia. “Suppliers are frequently mentioning the impact of rising fuel, freight and electricity costs on their bottom line and these are significant additional challenges being faced by the industry,” he said.
“Home building activity is likely to hold up better than suggested by the fall in approvals from their high because there is still a large pipeline of work yet to be completed due to bad weather and supply bottlenecks,” he said.
Source: Real Estate Daily Report (realestatedailyreport.net)
swrighteconomy When the price of fuel rises it causes the price of everything to rise. Everything is shipped in boats and trucks. Farming and construction plant too the world runs on diesel. Trump warned us this would happen.
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