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One of the country’s most prominent builders will lose nearly a tenth of its workforce, due to growing concerns about Australia’s construction industry. Key points: Metricon has told its workforce it is “restructuring” More than 200 jobs will be started Concerns continue about Australia’s construction industry Metricon was forced to defend itself against rumors of bankruptcy just a few months ago. The company has now notified its roughly 2,500 workforce that it is restructuring. This move will impact 9 percent of its workforce. It worked for more than 200 jobs. Most of the roles that will be taken are not in the building or construction itself, but in front of homework such as sales and marketing. In a statement, Metricon’s acting chief executive Peter Langfelder said the company was contracted to build 6,000 homes. “We are working to restructure our business front end given the current climate and the need to move forward more efficiently,” he said. Australia’s commercial and resident

Ford plans to build 2 million EVs per year by the end of 2026 and is actively sourcing raw materials from miners and battery capacity from manufacturers. Ford Motor Company announced this week it would push through a number of deals to accelerate electric vehicle (EV) manufacturing to meet global demand. The American multinational automaker is sourcing battery capacity and raw materials to enable it to build 600,000 EVs by the end of 2023, with the annual global EV operating rate expected to increase to more than 2 million by the end of 2026. As part of this, battery maker China Contemporary Amperex Technology Co., Ltd (CATL) has agreed to provide Ford with a full lithium-iron-phosphate (LFP) battery pack for the Mustang Mach-E model for North America next year, and a battery pack the same for the F-150 Lightnings model in early 2024. The company has now supplied about 70% of the battery cell capacity needed to support its annual operating rate by the end of 2026. In reaching 600,000 E

Queenslanders with rooftop solar panels are effectively subsidizing power companies, according to Queensland Conservation Council (QCC) energy engineers. Key points: Energy retailers save millions of dollars per month because of rooftop solar, says Conservation Council Loganholme resident David Baggs says feed-in rates are “bad” The Australian Energy Council says feed-in rates are already high enough The feed-in rates paid to households exporting electricity are well below wholesale prices, meaning retailers save millions of dollars per month, said QCC energy strategist Clare Silcock. “Because the prices are so high, we’re seeing massive subsidies,” Silcock said. “It’s a bit of a change from what we’ve heard historically – that feed-in tariffs have benefited the middle class and channeled subsidies to people who can afford to install solar panels on their roofs.” In Loganholme, south of Brisbane, David Baggs earns 7 cents per kilowatt hour for the electricity he delivers to the grid.

Costs to build homes have risen by more than $94,000 in the past 15 months amid warnings half of Australian construction firms could be forced to close. The Australian Bureau of Statistics revealed in its latest building approvals data that the median price for building a new home was $413,436 in May. This marks a $94,177 increase in the cost to build a new home more than a year ago when prices averaged just $319,259 in February 2021. Homeowners typically sign a fixed price contract with their building company the day the project starts – which protects the signer but can sometimes leave the trade in trouble. Soaring material costs, the Covid pandemic, rising inflation and war in Ukraine have fueled global supply shortages and forced prices to skyrocket, sending many companies into chaos. Paul Viney, president of the Victorian Association of Consulting Architects, said builders had raised prices to protect themselves. ‘Builders are afraid of making losses [so] they build significant co

These companies are administrative members who own or manage more than 90 properties worth $65 million. They include 40 apartments in the group’s Sydney Road project in Brunswick, another 16 in the Banque 88 high-rise on Southbank, a supermarket and two offices in the Chadstone development and a similar property in The Bentleigh Center being developed in Melbourne’s southeast. These companies were severely affected during the COVID-19 pandemic and [by] Government policies include rent relief measures for tenants. Director of CBD Development Guo Jing Chen The latest body blow to the property sector follows the collapse last week of two home builders that left hundreds of homeowners in limbo. Family-owned Langford Jones Homes went into liquidation leaving 65 homes unfinished, owed 250 creditors more than $10 million, and another Victorian builder, Snowdon Developments, in voluntary administration with 550 unfinished homes and 262 creditors owed $17.8 million. . Ian Collins, who has run t