The nation’s builders are becoming increasingly concerned about skilled labour shortages and rising input costs, Master Builders Australia (MBA) said today.
“Builders reported increasing difficulty finding labour in virtually all 15 categories surveyed,” said MBA chief economist Peter Jones, referring to the association's December quarter National Survey of Building and Construction.
Shortages in labour will restrict building activity – potentially driving up rentals and keeping more Australians out of the property market. Mortgage activity could consequently slow.
“The anticipated input cost increases over the next six months can [also] only worsen housing affordability and add to inflationary pressures in the Australian economy unless offsetting productivity enhancements can be realised,” he said.
Whilst builders concerns are increasing, the survey also found that builders still perceive current business activity as good, and expect activity to improve strongly over the next six months.
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