News about building Commercial Property

The Housing Industry Association’s outlook for the next few years paints a bleak picture for the Sydney and Melbourne home building market, with little left in construction pipelines.

Home sales have been slugged over the last year, but demand remains strong and once buyers can get finance, purchases of new homes are expected to pick up.

The Queensland government’s draft housing plan to deliver almost 900,000 new homes by 2040 will not be enough homes to meet the population gains, warns the Housing Industry Association.

More than half of Australian homes have been standing for three decades or more, the prime age for renovation, which is hoped to underpin construction activity.

New contract conditions to cope with fluctuating prices and weather delays are being used more widely as builders fend off tough times.

Construction faces a difficult year ahead after rapidly rising interest rates put additional pressure on an industry already facing materials and labour shortages.

The design, build and reuse of materials in commercial properties – principles of a circular economy – can lead to a more sustainable future for the construction industry in Australia, and across the world.

A guaranteed weekend for workers and limiting its project list during Covid helped the rising construction firm find success though the industry’s most challenging period.

Probuild, one of Australia’s largest construction companies, hopes to find a new owner after going into voluntary administration.