A survey conducted in September by Master Builders found that in the last 12 months, the costs of building new homes in Queensland have increased by 20% due to the ongoing severe shortage of building materials as well as overwhelming demand for skilled tradespeople.
Demand for timber, bricks and roofing supplies are not being met while prices for structural bearers and joists were up more than 60% this year, resulting in builders experiencing a profitless boom.
Qualified trades such as carpenters, roofers, concreters, bricklayers, tilers and painters are all in short supply while the demand for housing continues to rise due to Regional Home Building boost grants, combined with low interest rates and record interstate migration.
Paul Bidwell, the Master Builders deputiy chief executive, has not ruled out the possibility of businesses folding in the coming months, with builders both large and small experiencing the current fallout.
For more information, please visit https://www.abc.net.au/news/2021-11-08/building-materials-shortage-rising-costs/100597790?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_web
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