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Flavio Macau, Associate Dean - School of Business and Law, Edith Cowan University

Planning a renovation or new build? Here's the outlook for skyrocketing steel and timber prices

It’s a tough time to build or renovate a house in Australia. Prices are up, well above inflation. Finding materials and getting them on time is a challenge. Builders are grappling with too much work and stress (with some folding as costs rise too fast). Customers are being confronted with eye-watering price quotes.

And as any would-be home builder or renovator knows, the price of timber or steel is crucial.

So what exactly is happening here, and what’s the outlook?

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