construction

Commercial property construction accounts for the majority of cranes dotting the skylines of Australia’s largest cities as residential projects struggle to get out of the ground.

Australia will fall hundreds of thousands of homes short of the Albanese government’s housing targets as buyer appetite to build remains dampened by interest rates and builder insolvencies.

Development and building giant Lendlease, under pressure from activist investors and with a sliding share price, will refocus from abroad to its Australian operations, says CEO Tony Lombardo.

Slower builds and cost blowouts will be the biggest challenges of 2024 for the construction sector, says Hutchinson Builders director Jack Hutchinson, as data shows a pick-up in the amount of work ahead.

The famed building company is turning funds manager as it searches for the next leg of growth amid tough times for traditional offices and malls.

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.

Governments and housing authorities must take into account the effect of their actions on home building, and failing to do so will be costly for all.

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.

For commercial real estate in Australia, it doesn’t get much more exciting than the supermarket wars. At the end of the 2022 financial year, Woolworths remained on top with a 37.1% share of the grocery …