Group 1 - A crisis in the housing market in Sydney is spreading due to skyrocketing construction costs, leading to hundreds of approved projects being stalled and a surge of unfinished homes entering the market [1][3] - Many homeowners are abandoning their construction or renovation projects, with some homes only partially completed, reflecting the severe impact of rising material prices, labor costs, and the bankruptcy of construction companies [3][5] - Tim Reardon from the Housing Industry Association indicates that many projects approved before the interest rate hikes in 2022 can no longer be delivered within the approved specifications and current costs, resulting in a significant number of stalled projects, particularly in the apartment market [3][5] Group 2 - Reardon notes that developers are choosing to delay or cancel projects before they start, and those that are underway often involve highly customized homes that are now left incomplete, highlighting structural issues within the residential construction industry [5] - The construction commencement rate is expected to remain low for at least the next three years, exacerbating the housing shortage [5] - Unfinished homes are being listed for sale, with examples including properties in Horsley Park and Oyster Bay, indicating a troubling trend in the market [5][8] Group 3 - Scott Cam, a long-time host of a renovation show, points out that homeowners often stop construction due to budget constraints, which is particularly challenging in the current environment of rising material costs [8] - Anne Flaherty from REA Group states that slow price growth in certain areas is contributing to the decline in housing completion rates, with unprecedented construction cost increases since 2021 making some projects unprofitable [8] - The combination of rising construction costs and declining market prices poses significant challenges for the housing market, making it difficult for projects to be profitable [8]
悉尼烂尾房扎堆挂牌！成本失控，数百套新建项目停工
Sou Hu Cai Jing·2025-05-03 10:54