These past two years have been challenging indeed - on so many levels and in ways that have been impossible for anyone to anticipate and prepare for. And for rental property tenants and home owners these frustrations become even more prevalent when a small plumbing or building issue can’t be fixed for months on end. The increase in demand in the construction industry has lead to a shortage of labour and materials - not only in Australia, but throughout the world, and it is not over yet according to HIA Chief economist Tim Reardon who said “record low interest rates, coupled with home buyers’ desire for a bigger property during COVID-19, had created a rush for new home builds and renovations over the past two years”
“Builders will be at capacity throughout this year and well into 2023,” Mr Reardon said. “There’s still challenges with land, labour and materials [affecting the industry].”
This all, has an effect on the other trades too, - from plumbers, electricians, plasterers, glaziers, carpenters to fencing contractors and many more. They have all been affected by increased work loads, labour shortages, material shortages, and rising costs. This means that the average person needing a repair done inside or outside of their home, is struggling to find someone to do it within a reasonable timeframe, and at a reasonable cost. Trades are in demand and in short supply.
This is an Australia-wide problem with labour and material shortages warnings even appearing on Government sites like the Queensland Building and Construction Commission (QBCC) and the Government of Mines, Industry Regulation and Safety WA.
As Strata Managers we have seen all this unfold, and we understand our clients’ frustration, as we too have experienced it on a business and personal level. The emotional effects of lack of property maintenance (what we want when we want it or need it!) and the frustrations of delayed work are not to be underestimated.
Our new BAU processes are unlikely to be long term though, as one thing we have all learnt in this current climate is to be ready for change as it can happen quickly. There are suggestions that change will take place in mid-2022 as the users of the Homebuilder grant complete their buildings and amid the possibility of interest rate rises in the coming years. These may cause the construction boom to slow, along with additional migration workforce becoming available as international borders reopen helping alleviate the labour shortages.
Our Ace Body Corporate Managers are here to help you navigate through this difficult time with all strata maintenance and repairs and can provide you with advice and guidance based on their experience. We are here to help you not just ensure your issues are resolved as soon as they can be but to also provide you with support during what we understand can be a very frustrating time for all involved.