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New South Wales Construction Faces Delays and Finance Demand Pullback

1 report, 1 independent Updated Sep 21
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

A report on the iCIRT Construction Index: Capacity highlights significant construction challenges in New South Wales. Only 23.2% of Australians involved in new home builds over the past year reported completion on time, while major renovations saw a 28.8% on-schedule rate. The report also noted a contraction in asset finance demand for small-to-medium construction businesses.

From brokernews.com.au

Why it matters

Some supportBrind's analysis of the reports

The issues extend beyond individual building sites, potentially affecting housing affordability, forward productivity, and national supply targets. Delays are primarily attributed to planning and site preparation, which accounts for 21.5% of construction delays, and severe labor constraints.

From brokernews.com.au

Who's involved

  • New South WalesThe state where construction delays and finance demand pullbacks were reported.
  • WaltersGeneral manager commercial at Equifax Australia who provided commentary on the findings.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • New South WalesSpeculative

    Small-to-medium construction businesses in New South Wales might face reduced revenue due to the contraction in asset finance demand.

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The entities involved

Coverage

Newest first; wire copies grouped