MCG in the Media

Q2 2024

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Key Australian property market trends of 2024

Ryan Johnson - Broker News - January 6, 2024

MCG Quantity Surveyors managing director Mike Mortlock told The Sunday Times it was the first time WA had recorded double digit share of the investor pool.

Mortlock, however, offers a contrarian view, anticipating an upper limit of 8% growth due to ongoing supply shortages.

“The pace of construction cost growth will slow since supply chain pressures we saw during COVID have returned to normal,” Mortlock said. “However, there is still a significant shortage of construction labour, exacerbated by the pipeline of government infrastructure projects.”

Mortlock called the target of building 1.2 million homes over five years from July 1, 2024 “fanciful at best, but nigh on impossible” given the current labour shortages among construction companies.