It is clear that the current economic crisis is affecting numerous industries, including the building sector.
An article in The Age yesterday discussed the industry’s concerns.
The construction industry faces job losses due to a downturn in activity caused by the global economic crisis, builders have warned.
Projects from small apartment developments to big commercial jobs have been put on hold amid investor concerns and tightening credit.
The downturn could be a setback for the State Government's controversial plan to encourage more Melburnians to live in flats around transport and retail hubs.
Master Builders Association of Victoria executive director Brian Welch said yesterday many projects had been stopped in the early stages and others cancelled.
"Investors are looking around and asking if they really wish to take a plunge at this point - this will send a shudder through the industry," he said.
"There is a prospect there will be industry layoffs and a downturn in work in the new year."
The Housing Industry Association, which represents home builders, said the crisis was hitting apartment projects.
"It ranges from 20-unit to 200-unit developments," HIA acting state director Robert Harding said.
"The larger the development, and the more money that needs to be put up, the tougher it's getting."
Mr Harding said this could hurt the Government's Melbourne 2030 urban plan, which centres on apartments.
Mr Welch said unions should consider more flexible work practices on big commercial projects to help ease the pressure during the economic crisis.
The construction industry faces job losses due to a downturn in activity caused by the global economic crisis, builders have warned.
Projects from small apartment developments to big commercial jobs have been put on hold amid investor concerns and tightening credit.
The downturn could be a setback for the State Government's controversial plan to encourage more Melburnians to live in flats around transport and retail hubs.
Master Builders Association of Victoria executive director Brian Welch said yesterday many projects had been stopped in the early stages and others cancelled.
"Investors are looking around and asking if they really wish to take a plunge at this point - this will send a shudder through the industry," he said.
"There is a prospect there will be industry layoffs and a downturn in work in the new year."
The Housing Industry Association, which represents home builders, said the crisis was hitting apartment projects.
"It ranges from 20-unit to 200-unit developments," HIA acting state director Robert Harding said.
"The larger the development, and the more money that needs to be put up, the tougher it's getting."
Mr Harding said this could hurt the Government's Melbourne 2030 urban plan, which centres on apartments.
Mr Welch said unions should consider more flexible work practices on big commercial projects to help ease the pressure during the economic crisis.
