Australia's Construction Sector Hit Hard by Middle East War
About this episode
Australias construction sector braces for mass layoffs and housing delays due to soaring supply chain costs linked to the Middle East war. Prices for asphalt, PVC pipes, and diesel have surged, leaving contractors like Andrew Mahar in Victoria struggling with fixed-price deals. Families face increased home costs, with one builders quote doubling in weeks. The Civil Contractors Federation warns of potential bankruptcies, while economist Saul Eslake suggests fuel law tweaks and contract adjustments to mitigate the impact on builders and housing goals. The federal government has taken steps to alleviate the situation, but the industry continues to grapple with the crisis.
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Sydney News Today | 2 Min News | The Daily News Now! — Australia's Construction Sector Hit Hard by Middle East War. Machine-transcribed; use the interactive transcript above to jump the player to any line.
Experts warn Australia's construction sector faces mass layoffs in housing delays from supply chain chaos tied to the Middle East War. Prices for asphalt spiked 50% since late February. PVC pipes and drainage jump 30% to 40% and diesel costs have doubled. Contractors like Andrew Mahar and Victoria running a firm with 40 workers on roads and subdivisions say fixed price deals leave no wiggle room for. These shocks. These are hit hard too. One builders quote for earthworks and driveway doubled before even pouring the slab, pushing one home's total of one hundred twenty thousand dollars in weeks. The Civil Contractors' Federation fears thousands of firms could bankrupt without aid as insolvencies already doubled post-COVID. Economist Saul Eslake calls it worse than pandemic disruptions, urging fuel law tweaks to protect builders and contracted adjustments to hit housing and renewable goals. Fed's note they've halved fuel excise, waived heavy vehicle charges, and urged states
to flex contracts while tracking industry pain. Local news, powered by AI, this is Sydney News Today.
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