The construction industry has experienced significant challenges in recent years with the aftereffects still being felt across certain parts of the sector today. A common theme in this has come in the form of price escalations in everything from fundamental building materials to skilled labour costs.

CBRE’s 2023 Pacific Market Outlook report took the non-consensus view that construction costs could face deflationary pressure this year, so to investigate this notion further, Talking Property enlisted expert insights from Matt Bourne, the newly appointed CEO of construction company, Robert Co, and Tiffany Emmett, the Senior Economist at Turner & Townsend.  

Sitting down with CBRE’s Head of Pacific Research, Sameer Chopra, the trio delve into the industry’s most crucial talking points including what to expect this year, uncontrollable spikes and risks in the market, the current state of international supply chains and the specific areas of construction costs that are showing signs of stabilisation. 

The experts will also touch on external influences on construction costs including the influx of migration forecasted for Australia and its overall effect on the local worker shortage. On the immediate horizon, there will also be commentary on Brisbane’s surging project pipeline and its demand for top tier subcontractors which could contribute to further pricing escalation. 

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