Victoria's property confidence falls to near record lows
A new survey shows Victoria's property industry confidence has dropped to near record lows, raising concerns about the state's construction and development pipeline.
Is Victoria's property slump going to dry up construction work for tradies?
Builders and tradespeople in VIC may face fewer contracts and slower work pipelines as developer confidence falls and new projects stall.
Key takeaways
- Victoria's property industry confidence has dropped to near record lows according to a new survey.
- Low confidence signals fewer new developments, which can reduce work for builders and trades contractors.
- The state's construction and development pipeline is at risk if sentiment continues to decline.
Related
Pressure mounts for probe into construction corruption in Victoria
ACCI and VCCI are jointly calling for a Royal Commission into corruption and criminal conduct in Victoria's construction industry. The push reflects growing pressure from business groups for formal investigation into sector-wide misconduct.
Why it matters: Builders and subcontractors in Victoria could face increased scrutiny and regulatory change if a Royal Commission proceeds. Day-to-day operations, contracts, and industry conduct may all come under review.
Melbourne office market nears turning point as tenant demand increases
Melbourne's CBD office market is showing early signs of recovery, with tenant enquiry at its strongest in years and construction activity expected to increase.
Why it matters: Builders and associated trades may see increased commercial fit-out and construction work in Melbourne's CBD as office demand picks up.
Rushing Working from Home laws will only lead to more bungling
Victoria is pushing ahead with Working from Home laws despite HIA urging the government to drop the proposed legislation, citing added burdens on residential building.
Why it matters: Builders in Victoria may face new compliance obligations under the proposed laws. Day-to-day operations and labour flexibility on residential sites could be affected.