A new investigation is to be held into the costs associated with Australian property construction, with the announcement backed by Master Builders Australia (MBA).
The study is to be carried out by the Council of Australian Governments (COAG) and will examine the present and ongoing challenges facing costs and productivity in the sector, with the MBA set to work alongside the organisation to help in its research.
Wilhelm Harnisch, chief executive of MBA, commented: "Labour accounts for approximately 50 per cent of construction costs. It is pleasing to see this has been included in the investigation's terms of reference."
He added that the organisation now looks forward to the announcement of who will make up the COAG's independent three-person panel for the investigation.
According to recent comments from market analyst and housing expert Catherine Cashmore in Property Observer, politicians across the country now need to focus their efforts on making the right decisions that will boost the Australian property sector in the coming years.
Posted by Steve Douglas
