A real-life Robin Hood moment might be going on. Falling Apartment Prices in Sydney Means More Construction.
A market crash has started to occur due to the fact that apartment prices are falling because the demand for houses is rising.
I know you’ve heard it all before “Sydney’s growth is unsustainable”, but now, we’re really seeing it happen!
Sydney’s Millennials finally growing up?
As a result, investors are taking the biggest hit, having to invest their money elsewhere at least until the market rebounds. However, this crash in the market does have its perks, Sydney residents as well as skilled labour hires are going to be able to benefit from this loss in the market.
Impact for Construction Workers
Renovations, new builds, and kit homes are on the rise.
Construction workers may be the happiest about this situation. Increased demand in housing means bigger need for jobs in Sydney.
No need to worry though, because this crash was anticipated. Construction Recruitment Agencies, like us, prepared.
Our skilled team are demanding higher salaries. Which is fine. Great actually.
Unfortunately, the pool for skilled work is smaller than what’s needed. So, ultimately fees and hourly rates are up to the workers, to an extent It may not be permanent, but there’s no saying how long it will last, so construction workers are taking this opportunity and running with it.
It’s never been a better time to get into the industry.
As I mentioned at the start, for years, they’ve been talking about Sydney’s “unsustainable property boom”. It’s been impossible to grow YOY, for about 10-years. But low and behold, it’s genuinely happening. Residents can take advantage of this opportunity while there’s time. We’re seeing housing costs flatten growth in many Sydney suburbs.
The only downside? The shortage of skilled workers, means A shortage of skilled labour workers means longer project times, which leads to longer wait times for residents to find themselves in the home of their dreams.
The Construction industry has been more than promising for many years. This plunge in apartments will only benefit usmore. Jobs are opening up and being filled. Houses are being built and homes are at a lower cost. Take advantage of the opportunities while available andcontact us to learn more about how we can help you today.