| Downturn endangers builders, suppliers The collapse of the national Kell in convincing the banks to finance projects has also undermined the sector and led to defaults by constructors. 4 per cent in the month while sales of multi-units fell 6. While retailers are blaming the internet for several of their woes, the fact that fewer homes are being built means demand is down for couches, soft furnishings and all things needed for a new dwelling. One of the higher profiles falls was Kell cember quarter (private sector down 1. ''It's a very tough time for the sector with the current state of the industry workload reflecting the difficult market conditions,'' Mr Richardson said. The group's first-quarter International Report for this year says the raising of finance for private-sector projects remains an issue for developers, in respect of both lending conditions and lengthy approval processes. ''Any sustained increase in new residential work has yet to materialise,'' it says. ''Non-residential work continues the recent trend of down opportunities, while the engineering sector is also experiencing variable workload. ''During the first half of 2011, Sydney encountered high levels of price discounting across a number of trades, with structure and services being particularly discounted during the second half of the year. |
Tuesday 6 March 2012
Downturn endangers builders, suppliers
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