ZB

Construction expert: Some companies won't survive turbulent times

Author
Newstalk ZB,
Publish Date
Tue, 28 Jun 2022, 7:46am
Photo / File
Photo / File

Construction expert: Some companies won't survive turbulent times

Author
Newstalk ZB,
Publish Date
Tue, 28 Jun 2022, 7:46am

A construction expert says we're in for turbulent times, with the slowdown in the market for new housing builds igniting fears property prices could begin to spiral.

The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries, as lending becomes tougher and banks want fixed-price contracts.

AUT's John Tookey told Kate Hawkesby some construction companies won't survive.

He says they won't be able to function with the restraints in credit.

Tookey says a drop-off in new builds will occur.

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