The perfect storm behind the construction downturn | The Business | ABC News [Video]

The home building sector is struggling through a significant downturn, with volumes down by up to 20 per cent. Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/business

Building materials and property investment company Brickworks says construction costs have risen and bureaucracy is delaying projects approval while the price of housing remains prohibitive for buyers struggling after thirteen interest rate hikes.

The company’s Managing Director Lindsay Partridge says the government will fall far short of its target to build 1.2 million new homes over the next five years.

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