Property Pulse: Budget Buzz, Perth Heat & Election Watch for Australian Building Pros
The Federal Budget's indirect impacts on the construction industry are under scrutiny. Tax cuts aimed at easing cost-of-living may stimulate housing demand, whereas proposed rollbacks of these and fuel excise cuts by the Opposition could increase material costs and create project costing uncertainty. Australian property professionals should pay close attention to infrastructure spending commitments, vital for job creation.
Perth's recent heatwave highlights the necessity of climate-resilient building design. Prioritising worker safety, incorporating passive design, and selecting materials to mitigate the urban heat island effect are becoming increasingly vital, especially with rising energy costs.
The upcoming Federal election introduces market uncertainty. Potential changes to the First Home Owner Grant, environmental regulations, and infrastructure investment could significantly impact the building sector. Builders, developers, and investors should analyse party policies on housing, climate change, and infrastructure to understand potential impacts on future projects.
Finally, recent farmer protests related to live sheep export are a reminder of potential supply chain vulnerabilities. Geopolitical factors and policy changes can disrupt the flow of construction materials. Diversifying supply sources and proactive risk management are crucial for Australian construction businesses to maintain project schedules and budgets.