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Construction of nearly 40,000 homes across Australia in limbo

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Sydney and Melbourne account for almost half of the stalled dwellings, new research shows.

Construction work on nearly 40,000 homes across Australia has yet to start despite them being given building approvals, new research shows.

High costs in building materials over recent years and the interest rate spikes have been blamed for the construction lag.Home building across Australia is lagging behind planning approval, new research shows. Compared with the five-year December average, the amount of stalled housing is 7.7 per cent higher in Sydney. Melbourne recorded am 11 per cent spike.

 

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