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\u201cHomeBuilder and low interest rates have been a key driver of the record volume of detached home commencements.<\/p>\n
\u201cThis demand for housing is also coming from a shift in the location of the population and a move to lower density housing.<\/p>\n
\u201cThe average number of people per house has been falling since the 1980s and COVID may have accelerated this trend.\u201d<\/p>\n
The data also reveals that labour shortages and supply chain restraints has led to fewer homes reaching completion in the normal construction timeframes.<\/p>\n
The HIA is cautioning that delay in the supply of materials will see the impact on labour and ancillary services remain elevated well into the second half of 2022.<\/p>\n
\u201cThis is a positive for the wider economy as the economic stimulus is spread over more years, but a challenge for building businesses,\u201d Ms Lillicrap said.<\/p>\n
\u201cThe shutdown of building activity in some regions will compound this delay in completing new homes.\u201d<\/p>\n
Master Builders Victoria have also raised concerns with the effect that building material shortages could have on the industry.<\/p>\n
CEO Rebecca Casson said that the MBV is aware that this issue is a very important topic for their members.<\/p>\n
\u201cWe have been very active on this subject, and while supply chain issues across our state continue to have an impact on the progress of building and construction works, as well as causing an increase in the cost of some materials and trades, it\u2019s important to note that here in Victoria we are not alone,\u201d Ms Casson said.<\/p>\n
\u201cCurrent conditions have seen a reduced capacity in supply chains for building products not only across Australia but overseas as well.<\/p>\n
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