Australians across the countries have endured a hike of 7.3 percent in residential construction costs in 2021, the highest growth rate recorded since March 2005. Despite the costs easing somewhat towards Christmas, experts fear that the cost relief in Q4 of last year might not last long as the country continues to suffer from disruptions in the supply chain in 2022. Similar to the above assessment, Housing Industry Association index figures released on Feb. 4 (pdf) showed that construction performance contracted by 11 points in December 2021 and January 2022, reversing a recovery from last November. Chief policy advisor Peter Burn of the Australian Industry Group, an employer’s organisation covering a wide range of industries, attributed the downturn to a combination of economic factors. “This latest downturn was driven by disruptions to labour supply, material supplies and business and household confidence associated with the rapid spread of the Omicron strain,” …