Construction Crisis

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Sentinel Property Group CEO, Warren Ebert, delves into the construction crisis by discussing the significant challenges currently facing the industry, particularly residential, in his interview with Catherine Cashmore’s Land Cycle Investor.

He highlights the steep increase in construction costs, the critical shortage of accommodation, and the difficulties posed by the rising costs of materials and labour. Despite government efforts to mitigate these issues by throwing more money at it, Mr Ebert points out that the shortage of skilled workers remains a major obstacle.

“We’re not building much more, and we can’t build much more,” he said. “We bought Caneland Shopping Centre in Mackay December 2022. We paid $280 million and to replace that centre is $700 million.”

Amid these challenges, Mr Ebert points out that the current market conditions create unique opportunities for investors to acquire established properties, which are irreplaceable.