Permanent cost increases, bad weather and labour shortages have slowed construction on sites around the country, pushing the industry’s total pipeline of work out to a record $224 billion.
Official figures show the build-up of work yet to be done – an industry proxy for delays – is rising far faster than the value of new work started, as builders demand changes to fixed-price contracts that underpin the industry.
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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
