Construction in Australia 2023 – mid term report

Wow… the first 6 months of 2023 has been rather tumultuous in the construction industry, especially the residential sector with inflation, supply chain issues, rapid interest rate rises and housing affordability coming home to roost and making for a difficult and tricky period for the industry to navigate. . However, in spite of all this, the fundamentals that have underpinned the industry for the last 20 years are all still in place and whilst the short and mid-term prospects aren’t so bright, the longer term is still looking quite promising. First, let’s unpack the bad news: the inflationary pressures brought about by global supply issues in the last two years combined with slow land release, lack of skilled