Brisbane homeowners are feeling the pinch in the pocket after complaints that timber decking installation costs have skyrocketed in recent years. The cost for such a project can put an extra financial strain on an unsuspecting homeowner, which can be a distressing event.

Australia - December 14, 2022 /MarketersMEDIA/ —

The housing industry in the developed world has seen a boom in 2022, thanks in no small part to the increasing cost of raw materials. In Australia, Timber has become an especially scarce commodity, and its price has surged significantly over the past few months.  

According to reports, there has been an unexpected spike in housing construction over the past few months, with millions of new units started across the country. The surge has been due to the incredible profitability opportunity that is currently in the housing market. Builders and construction companies understand the fact that the housing market is in a boom right now. Thus, they’re willing to bet on it and would like to improve their production capacity significantly.  

Supply Chain Constraints Affect timber Availability  

The primary problem appears to be the prolonged impact of supply chain constraints all across the construction industry. Delays in traditional supply routes have affected just about every industry since the coronavirus pandemic hit and lockdowns commenced in the early parts of 2020. Even when the global economy finally recovered from the pandemic, issues lingered.  

From the suez canal blockage in 2021 to erratic measures being taken by governments to control different variants of the coronavirus, construction contractors have been forced to improvise and manage a supply chain issue that doesn’t seem ready to go away.  

Of the many issues facing the construction industry, we’ve seen prolonged delays in the shipment and availability of raw construction materials. Common construction materials that used to be readily available before the pandemic are now more difficult to come by. Even if they are found, many of them tend to come with prolonged lead times.  

Thus, contractors have now found themselves compelled by the times to consider substitutions to materials in order to keep to project schedules and estimates. Those who haven’t been able to manage thus far have instead chosen to raise the prices of their materials.  

Timber has been especially affected by this wave, with its price surging by multiples thus far.  

Crunching The Numbers 

The increases in raw material costs have undoubtedly been a significant boon for constructors. Timber is the preferred material for decking construction in Australia, and contractors who can still offer the material will be able to increase their profitability significantly.  

That said, the fact that there are new opportunities in the market doesn’t mean that builders have it easy. According to the Cordell Construction Cost Index, the cost to build a standard 200-metre squared three-bedroom flat with two bathrooms in a single-storey structure jumped 3.4% in the third quarter of the year. This figure exceeded the 2.6% rise recorded over the second quarter.  

Leon Duncan from NO1 Decks Brisbane recently stated: 

“The rising costs, combined with increasing inflation, is making it harder for homeowners to spend money on renovations.”   

Duncan’s sentiment rings very true, especially for the current market segment. With renovations being especially challenging to come by, most homeowners are choosing to get new timber deckings instead.  

Outlook for 2023’s Building Season 

Experts believe that the rate of construction costs will most likely surge even further going into 2023, with prices of raw materials expected to continue increasing. If you’re a builder looking to make gains, this is the best time to enter into the housing market and engage yourself.  

Just as well, timber decking prices will most likely continue to rise into the new year. For one, the supply chain constraints that affected the market and led us to where we are have yet to abate. Just as well, there are estimates that the global economy could continue to face rising inflation rates as a result of expansionary monetary policies that were adopted in the fight against the coronavirus at the start of the decade.  

All of these go to show that contractors have an incredible opportunity to capitalize on this trend. If you’re able to find the right type of high-quality timber, it is essentially a seller’s market right now.  

However, it is also a contractor’s responsibility to ensure that the timber they offer is truly of the highest quality. If you are to charge high prices, you are obliged to ensure that what you’re selling is of top-notch material.  

About NO1 Decks Brisbane: NO1 Decks Brisbane is the premier decking company in Southeast Queensland. The company focuses on providing residents and businesses in the region with high-quality decking materials and services, ensuring that they can enjoy a proper mixture of aesthetic appeal and functionality when designing their outdoor spaces.  

NO1 Decks Brisbane is a family-owned business filled with experienced, talented, and creative builders who deliver superior quality work and excel in their customer service.  

Contact Info:
Name: Leon Duncan
Email: Send Email
Organization: NO1 Decks Brisbane
Address: 236 Arthur St Teneriffe QLD 4005
Phone: 07 3483 0441
Website: https://www.no1decksbrisbane.com.au/

Video URL: https://www.youtube.com/watch?v=Q8JacCVhelw

Release ID: 89086504

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