In Australia, the largest housing constructions haven’t been bigger than the Brickworks of the pre-2000 boom. The rush hasn’t coincided with the leading up of the Sydney Olympics, which has widely spread all around the country. Buyers are now longing to move ahead, while being enticed with new products and service taxes. It’s may not be the best time to buy building supplies in Sydney, but if willing, it can suffice their own needs.
According to a Brickworks manager, the goods and services tax rush came like a mob. More money has been used up for the building supplies in Sydney, to make them save around 10%. The boom that saw how the housing project all started had peaked up which may not be great for Australia’s building material suppliers. Especially in Sydney, prices were moved up, especially the cost for bricks which jumped to 33% in the past two years. Even the highly regionalised market showed signs of increase.
On the west coast, prices for building supplies reduced while the flooring demanded more surfacing. On the east coast, prices continued to agitate for the past years.
Many of the suppliers are somehow overwhelmed with the exposure of the housing construction economy. One building material supplier the Deutsche Bank foresees will be the biggest influence to the Australian residential market. While the residential construction boomed at its peak, it dropped to more than 11% recently.
The prices are expected to keep increasing where a Deutsche Bank analyst wrote a recent review for the housing market. It has greatly impacted the building supplies in Sydney, where the housing market has greatly suffered.
In 2017, the building supplies in Sydney can greatly affect the housing industry with its rising prices. Construction businesses will not know how to start or even complete the project with such price markups. It really depends on the scenario as to when the building supplies can be considered affordable. And one may need to slow down the construction costs. To help find the right providers with the best price, you need to look around, consider their offer before you finally decide.