Australia's Construction Sector Hit Hard by Middle East War
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Australias construction sector braces for mass layoffs and housing delays due to soaring supply chain costs linked to the Middle East war. Prices for asphalt, PVC pipes, and diesel have surged, leaving contractors like Andrew Mahar in Victoria struggling with fixed-price deals. Families face increased home costs, with one builders quote doubling in weeks. The Civil Contractors Federation warns of potential bankruptcies, while economist Saul Eslake suggests fuel law tweaks and contract adjustments to mitigate the impact on builders and housing goals. The federal government has taken steps to alleviate the situation, but the industry continues to grapple with the crisis.
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