Apartment development has slowed to a crawl in the Gold Coast, with the number of completed projects dropping as insolvencies and loss of capacity in the industry cut the resources available to head contractors as demand soars.
The slowdown in the regional Queensland market – where just 15 projects completed last year, while 133 were under construction or waiting to begin – coincided with an increasing resort by developers to private financing as banks became more cautious, new KPMG analysis shows.
Loading...
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
