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Developers and builders across Australia warn that the conflict in the Middle East has triggered a fresh supply chain shock, pushing up the cost of key construction materials and fuel and threatening the viability of new housing projects.
Many say the situation now resembles the pandemic‑era disruption and are calling for governments to reintroduce Covid‑style relief measures to keep projects alive.
Earlier this week, Nigel Satterley, CEO of Australia’s second-largest residential land developer, Satterly Property Group, warned that the war could add another $50,000 to the cost of building new homes.
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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.