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CEO of property developer Mirvac, Campbell Hanan, argues the sector’s biggest challenge is finding enough workers to build new houses.
Hanan wants increased immigration to help to fix skill gaps in the construction sector, while ‘nimbyism’ and objections to cities boosting population density were working against efforts to increase housing supply.
“You’ve got this extraordinary intake of migration which, by itself, is expansionary to housing supply. And on the other hand, you’ve got a blowout in the cost of construction through inflation”, he said.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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