John Tookey: AUT construction expert says some companies won't survive turbulent times, drop off in new builds will occur
Early Edition with Ryan Bridge · Newstalk ZB
June 27, 20223m 44s
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Show Notes
A construction expert says we're in for turbulent times, with the slowdown in the market for new housing builds igniting fears property prices could begin to spiral.
The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries, as lending becomes tougher and banks want fixed-price contracts.
AUT's John Tookey told Kate Hawkesby some construction companies won't survive.
He says they won't be able to function with the restraints in credit.
Tookey says a drop-off in new builds will occur.
LISTEN ABOVE
The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries, as lending becomes tougher and banks want fixed-price contracts.
AUT's John Tookey told Kate Hawkesby some construction companies won't survive.
He says they won't be able to function with the restraints in credit.
Tookey says a drop-off in new builds will occur.
LISTEN ABOVE
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