Original article by Michael Bleby
The Australian Financial Review – Page: 30 : 7-Feb-24

Consulting firm RLB expects a rising wages bill to be a major contributor to construction industry costs in 2024. The CFMEU is still negotiating new enterprise agreements for construction workers in NSW and Victoria, but Domenic Schiafone of RLB notes that building firms are already factoring in wage rises of at least five per cent into their prices. RLB says other risk factors for the construction industry in 2024 include the impact of supply-chain disruptions on access to imported building materials and rising project financing costs.

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