The bad times for construction appear to be in the past now. 

Building approvals have increased by almost 20% from January 2023 to November 2023. In January 2023, building approvals were at 12,185. By November 2023 approvals numbers had reached 14,529.

The last few years have been a terrible period for the construction industry. Poorly managed stimulation packages and government interference nearly caused the collapse of the building industry in Australia with many builders going to the wall. Those dark days have now past, and the building industry is now back on its feet and doing well. The bad times meant that little supply was being brought to the market and hence the demand vs supply comparisons have been way out with demand far exceeding supply. Now that approvals are up and builders are starting to bring more stock to the market, it may be easier for those struggling to get in to the market to finally make that move.