Just as increases to construction material prices are starting to slow down, builders are facing a new threat, with rising interest rates forcing clients to cancel their contracts.
abc.net.au/news/building-industry-hit-by-rate-hikes-inflation/101892534Builders like Richard Oliver have been doing it tough over the past year and, while there are early signs one of their key problems is resolving, other major threats are emerging that may see more construction firms go under.
The latest price spikes the Darwin-based home builder has noticed include steel for building frames and aluminium finishings."Steel [is used] from the preliminary stages of reinforcements in the slab or footings right through the structural steel-wall framing, roof construction, cladding, windows, aluminium windows.
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