Massive Shortage in Housing Construction Continues

As Australia continues to work through a huge volume of new home and home renovation work, tradespeople across the nation are highly in demand. This trade shortage is still due to the impacts of Covid-19 and the subsequent fallout, with housing demand remaining steady despite delays.

HIA Economist Nick Ward says there is light at the end of the tunnel in terms of a record number of apprentice commencements and a recovery in migration, which has been much faster than expected.

The HIA or Housing Industry Association has released that its HIA Trades Availability Index registered -0.86 in the September quarter. This indicates the second worst shortage on record since the quarterly report began in 2003.

The trades worst affected include carpentry, bricklaying and roofing. Interest rate growth is projected to slightly slow the housing demand, however, demand is still expected to be considerably high until at least 2024.