Australia's Home Building Costs Soar Due to War
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Skyrocketing fuel prices due to the Middle East conflict are causing a surge in construction costs for new homes in Australia, with suppliers adding emergency fuel levies. Builders are facing increased prices on materials like sand, concrete, and pipes, with some surcharges reaching over five percent. The pipe sector is particularly affected, with Asian manufacturers declaring force majeure on petrochemical supplies, leading to significant price jumps and potential shortages. Industry leaders compare the situation to the early days of COVID, warning of worsening supply chain disruptions and a potential impact on the governments target of delivering one point two million new homes over five years.
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