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Boomtime conditions for WA builders spark warnings of a bust as prices for new homes soar

Sumary of Boomtime conditions for WA builders spark warnings of a bust as prices for new homes soar:

  • Consumers face skyrocketing prices and time blowouts of months on new and renovated homes as builders warn that a flood of demand could overheat the industry…
  • Western Australia is experiencing a building boom Government subsidies and low interest rates are fuelling demand Builders are warning of downside risks unless managed Housing and construction activity in Western Australia has risen dramatically in the past nine months, according to the peak builders’ group, fuelled by generous government subsidies and ultra-low interest rates…
  • The situation has sparked claims from one of WA’s biggest regional construction firms that boom-like conditions could turn to bust unless the pipeline of work is carefully managed…
  • in demand was set to get more acute later this year, with a rush of new private and public projects threatening to stretch supply chains to breaking point…
  • Demand to be ‘double’ supply Wauters Enterprises CEO Brett Joynes says a demand glut needs to be staggered to avoid layoffs.( ) Mr Joynes said there were already chronic shortages of some materials such as structural timber and steel and the situation was only set to get worse…
  • According to Mr Joynes, prices being paid for some skilled trades such as bricklaying have almost doubled in the past year as Australia’s closed border restricted the availability of labour….

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