High-rise apartment towers can be plagued by high vacancy rates, which may affect their resale value. Picture: Jay Town
NEW BUILDS When buying a new build, it d be nice to assume the tradie had covered all bases during construction, Builders Collective national president Phil Dwyer said. But putting blind faith in the builder was fraught with risk and could lead to costly headaches, he said. A building inspector was needed to go through the structure with a fine-tooth comb. He also recommended people do a background check on the builder by getting references from friends and family or even contacting some of their previous clients.
January 29, 2021
HomeBuilder has provided a shot in the arm to the housing sector, with households taking on record levels of debt to fuel the nation’s economic recovery.
But increased demand has already pushed up the price of materials and labour, squeezing the budgets of home-buyers and renovators.
According to Wednesday’s Consumer Price Index, costs associated with the maintenance and repair of dwellings rose 0.7% in the December quarter and 1.7% over the year.
Phil Dwyer, the head of small builder lobby group Builders Collective of Australia, told
The New Daily the price of building materials shot up after HomeBuilder was announced in June, with most smaller builders unaware of the rising costs until they hit the shops.