Supply chain delays and rising construction costs are putting pressure on builders and subcontractors, with more companies expected to hit the wall.
has warned that more companies and subcontractors were likely to hit the wall as the material supply crisis shows no sign of abating.
“In my opinion, a section of the construction industry in some parts of the country, like south-east Queensland, is in quite a mess and some businesses are unlikely to survive the dilemma currently confronting the industry,” Mr Quinn said in a message to staff. The current crisis especially hurts those builders using fixed price contracts who have no ability to pass on cost increases on timber and steel in the six to 12 months it takes to finish a project, says Paul Bidwell, Master Builders Queensland deputy chief executive.
He said a builder in Central Queensland was taking a loss on every one of the 100 homes he was constructing because contracts were locked in on 2020 prices for materials. Mr Bidwell said Oracle had every right to ask customers for more money, saying they didn’t have to pay.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NSW MP Alex Greenwich threatens to withdraw supply from Perrottet government over ‘attacks’ on trans kidsSydney independent says he can’t have a ‘cooperative relationship’ with the NSW minority government if the premier continues comments
Read more »
Call for ‘carbon reduction targets’ on projectsInfrastructure Partnerships Australia says the government needs to make the construction sector reduce its carbon emissions.
Read more »
CFMEU taken to court over entry blitz targeting Melbourne builderJohn Setka’s CFMEU branch has been accused of “unconscionable” conduct by issuing 400 entry notices against a builder in just three months, disrupting projects.
Read more »
'Critical minerals' sector becomes latest federal election battlegroundLabor brands Prime Minister Scott Morrison 'ignorant' of the importance of critical minerals to the national economy, as construction of a $500 million rare earths refinery officially begins in WA.
Read more »
IFM renders fresh software investmentIFM Investors is set to take a controlling stake in Australian digital network construction business, Render Networks.
Read more »
Barack and Michelle Obama to end exclusive podcasting deal with Spotify, reports sayObamas’ media company Higher Ground reportedly seeking new partner
Read more »