About This Source - ABC News (Australia)
The video item below is from ABC News (Australia). ABC News is a public news service in Australia produced by the News and Current Affairs division of the Australian Broadcasting Corporation.
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ABC News (Australia) published this video item, entitled “No winners in building materials shortage as builders, rich, vulnerable all impacted | ABC News” – below is their description.
A nationwide shortage of building materials is putting pressure on Queensland’s construction industry, with fears the building boom will claim several casualties.
The building boom was meant to be a veritable gold rush for builders but — in a cruel twist — high demand, price increases and delays have been costing them dearly.
Sunshine Coast builder Mitch Butler thought 2021 would be one of his most profitable years, but it is turning out to be one of his worst.
“There is going to be a lot of builders going to hurt out of this,” Mr Butler said.
He said he was losing an average $15,000 on each house he was building.
“I don’t think anyone saw this coming,” he said.
“All your frames and trusses, roofs, carpenters, concrete, everything’s going up in price, but the problem for [builders] is that we’ve signed a contract, so we’re stuck at that contract price.”
A combination of high demand, timber-destroying fires and COVID-19-related logistical delays are causing the material shortages and the subsequent rise in prices.
On top of costs for materials, Mr Butler said, builders were also at risk of having to pay liquidated damages of $50 for each day a house was delayed after the contractual end date.
“I’ve just ordered two frames and trusses from suppliers [and delivery will take] three and a half months,” he said.ABC News (Australia) YouTube Channel
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