Australia’s Construction Industry Faces “Bloodbath,” Says Lobbying Group Clamoring for Bailout, after Riding up the Housing Bubble | Wolf Street

“The reality is that it is going to remain very difficult for buyers to commit to purchases several years ahead of completion in the current environment of very high uncertainty and this will keep pre-sales rates slow and prevent developers reaching pre-sale hurdles for finance,” said JLL national head of residential research Leigh Warner.

In addition, “residual unsold stock in recently completed or still under construction projects” is also making it harder to move new projects forward, Warner said.

Australia’s Construction Industry Faces “Bloodbath,” Says Lobbying Group Clamoring for Bailout, after Riding up the Housing Bubble | Wolf Street