High house prices, slow approvals for new builds and a logjam of civil works in providing water and sewerage connections mean that federal and state government targets to deliver 1.2 million more homes by 2029 is unlikely to be met, according to one of the nation’s largest building-materials suppliers.
Mark Ellenor, chief executive of Brickworks, which operates the Austral Bricks and Bristile roofing and tiles businesses, said the country was likely to significantly undershoot the target of 1.2 million new homes by 2029 set by the federal and state governments mid-last year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.