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Australia’s mammoth pipeline of road and rail projects is driving up costs and causing workers to leave the residential construction sector, the central bank has warned.
In Sydney, the crisis has seen rents for houses surge 16 per cent in the past year alone. Read more at straitstimes.com.
Unchecked claims about a construction collapse have been circulating for half a year, but no one has spoken up to stop them.
Evidence is mounting that the past 12 rate rises are starting to squeeze the economy. The tricky question for the new Guv must be: “Is this the start of something really bad?"
Auckland Council says it is aware of defects being discovered in apartment balconies in Australia, but it is not seeing anything like that here.