Perth’s troubled building boom: Pay more to finish, even more to get out.

…Strategic Property Group managing director Trent Fleskens, who helps investors develop properties, said he had seen about a 40 per cent increase in costs since late 2019 before the pandemic arrived.

Mr Fleskens said builders would have lost money on most projects that were priced and started before early 2021.

“You have this mismatch in a market where it costs more to buy land and build than it does to buy an established property,” Mr Fleskens said…

https://www.watoday.com.au/national/western-australia/perth-s-troubled-building-boom-pay-more-to-finish-even-more-to-get-out-20220210-p59vj0.html