This evening I listened to a representative from the plasters union on the Last Word with Matt Cooper telling a tale of woe. People working in the building sector are being laid off because developers are stopping construction of houses and commercial property in the hope that if they trottle back on supply they can force property prices back up. The spokesman was saying that builders may lay off workers after the traditional builders holiday in August. An estimate of 10,000 job losses in the construction sector was mentioned.
It would be interesting to see if the government can be brave and introduce legislation to encourage development, for example put time limits on planning and rezoning thereby introducing a use it or loose it clause on development land. I know the current government are nice and cozy with property developers so this is unlikely, but 10,000 job losses in one sector of the economy is not something many politicians would like to explain.
It would be interesting to see if the government can be brave and introduce legislation to encourage development, for example put time limits on planning and rezoning thereby introducing a use it or loose it clause on development land. I know the current government are nice and cozy with property developers so this is unlikely, but 10,000 job losses in one sector of the economy is not something many politicians would like to explain.
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