Reported at michaelwest.com.au: Rising construction costs continue to hinder the housing industry in Australia, as costs for building stand-alone houses climbed 3.4% over the past year, leading to an insolvency rate among construction companies that has reached its highest in years.

Despite inflation returning to normal levels, builders face challenges such as labor shortages, high materials costs, and regulatory burdens, resulting in low dwelling commencements near 10-year lows.