The perfect storm behind the construction downturn | The Business | ABC News

The home building sector is struggling through a significant downturn, with volumes down by up to 20 per cent. Subscribe: ab.co/1svxLVE
Read more here: www.abc.net.au...
Building materials and property investment company Brickworks says construction costs have risen and bureaucracy is delaying projects approval while the price of housing remains prohibitive for buyers struggling after thirteen interest rate hikes.
The company's Managing Director Lindsay Partridge says the government will fall far short of its target to build 1.2 million new homes over the next five years.
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: ab.co/2lNeBn2
Like ABC News on Facebook: / abcnews.au
Follow ABC News on Instagram: / abcnews_au
Follow ABC News on Twitter: / abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia