The Australian’s 2024 CEO survey shows that CEOs of major Australian banks believe that housing is Australia’s most critical area of reform. Suppose the government, banks, developers and community groups work together to coordinate and solve the problem of insufficient housing supply. In that case, Economic growth, housing affordability and social inclusion will all benefit.
National Bank (NAB) chief executive Ross McEwan said solving the housing shortage was Australia’s biggest challenge. He pointed out that 50,000 fewer homes were built each year across Australia than needed. ANZ chief executive Shayne Elliott said it was the most difficult time in 30 years to get a home loan for people who don’t own a home. Commonwealth Bank (CBA) chief executive Matt Comyn and Westpac chief executive Peter King echoed similar sentiments.
The Australian construction industry is still far from out of the cold winter, and the number of corporate bankruptcies may continue to rise in the coming year.
Industry analysis shows that the Australian construction industry is still far from out of the cold winter, and the number of business failures in the industry is expected to continue to surge in 2024.
According to the latest statistics from the Australian Securities and Investments Commission (ASIC), the number of construction-related business failures reached 3046 in the year to December 3, an increase of nearly 38% from the 2213 closures for 2022.
Meanwhile, construction-related business closures accounted for 27% of all business closures so far this year. The main reasons for failure include poor financial planning, insufficient cash flow and poor economic conditions.
Some industry analysts are not optimistic about the construction industry’s situation in the next year. They predict that the number of construction-related company failures will continue to increase in 2024.
Jarvis Archer, head of restructuring and insolvency at Revive Financial, said the construction industry will see significant insolvencies through at least the first half of 2024.
Russ Stephens, co-founder of the Australian Professional Builders Association (APB), also predicted that there will be “more business closures” in the construction industry in 2024 as inflation and supply chain challenges continue to intensify.
Revolutionizing the construction industry: New high-efficiency foaming agents lead the green building revolution
The construction foaming agent is a foam material made of polyurethane or polyethylene. It can quickly expand into a foam shape and has good filling and bonding properties. Construction foaming agents are widely used in the construction industry. The following are the main functions of construction foaming agents:
- Thermal insulation: Foam materials can effectively block heat exchange between indoors and outdoors, effectively improve indoor thermal comfort, save heating energy consumption, and reduce energy consumption costs.
- Sound isolation: Foam materials have high sound absorption properties, which can effectively suppress the spread of indoor and outdoor noise and improve the sound insulation performance of the building.
- Waterproof and moisture-proof: Foam materials have good waterproof and moisture-proof functions, which can effectively prevent moisture penetration indoors and outdoors and protect the integrity of the building.
- Fire protection: Foam materials have high fire resistance, effectively suppressing the spread of flames indoors and outdoors and protecting building safety.
- Insulation and anti-static: Foam materials have high insulation properties, effectively suppressing static electricity indoors and outdoors and protecting building safety.
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