Australians spend record $100bn on new homes amid tradie shortage

Building works data shows value of new home building works being completed at a record level, but it might not mean significantly more homes are being built. Australians spent a record-breaking $100bn building new homes in the past financial year, more money than is produced by the economies of Sri Lanka, Uruguay or Slovenia. And with experts noting the figure was in part driven by increasing building costs brought on by trade shortages, it’s likely the spike reflects Aussies spending more — not necessarily getting significantly more homes built. And industry experts believe the cost spike will be coming off the back of a tradie shortage that is becoming an increasingly problematic headache for the Albanese government’s hopes to build the nation out of a housing crisis. RELATED: ‘Distress’: Aussies warned of new RBA ‘trap’ Shock $6bn investor development post Albo tax attack Block finale in jeopardy over auction law change Worse, the spike precedes the impacts caused by the Iranian conflict’s impacts on fuel costs — which are not expected to start appearing in the data until later this year. Preliminary Australian Bureau of Statistics data shows that in the 2026 financial year Aust...