Building industry faces 'nerve-racking' 2023 amid double-whammy of rate hikes and inflation

  • 📰 abcnews
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 83%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Just as increases to construction material prices are starting to slow down, builders are facing a new threat, with rising interest rates forcing clients to cancel their contracts.

abc.net.au/news/building-industry-hit-by-rate-hikes-inflation/101892534Builders like Richard Oliver have been doing it tough over the past year and, while there are early signs one of their key problems is resolving, other major threats are emerging that may see more construction firms go under.

The latest price spikes the Darwin-based home builder has noticed include steel for building frames and aluminium finishings."Steel [is used] from the preliminary stages of reinforcements in the slab or footings right through the structural steel-wall framing, roof construction, cladding, windows, aluminium windows.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Higher rates are the solution, not the problem!

Bring 200,000 more people to Australia that'll fix it. (Satire)

We’re busy as ever ? No doom and gloom , we are a family company, never advertise, yet work flows in ,why ? Cause we do a ‘ Good job , employees are treated well and expected from apprentice to tradesmen to work , they stay with us many want work with us we are careful?

Ireland Ireland Latest News, Ireland Ireland Headlines