More businesses in the construction sector, already under pressure from stretched supply chains and labour, are expected to go to the wall as public infrastructure spending surges, pushing the cost of materials and wages beyond manageable levels.
Construction-industry insolvencies jumped nearly 40 per cent in the three months to December compared to the September quarter – and were up almost 30 per cent on a year earlier – the latest data from regulator ASIC shows.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
