Already a subscriber?Property developers in Perth say prohibitive construction costs and labour shortages mean new projects can’t get off the ground as the city’s housing crisis worsens.
Thousands of tradespeople abandoned Perth in the years before COVID-19 searching for better pay, Ms Steinbeck said, before federal and state building incentives “blew the doors off” demand and caught the building industry off guard. The industry now wants the state government to expand existing assistance packages to persuade developers to push ahead with builds that would otherwise be unprofitable. The government’s $80 million Infrastructure Development Fund gives developers a rebate of $10,000 for each apartment in a multiple-dwelling complex in these areas.
He said if the government increased its contribution to $20,000, projects would get built faster and this would have a “ripple effect right through the housing continuum”.
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Source: FinancialReview - 🏆 2. / 90 Read more »