From thefifthestate.com.au: The construction market in Victoria is facing challenges primarily due to a private sector reluctance to engage fully in planning and development consent processes, despite easier development conditions compared to New South Wales.

The state government is struggling to address a significant infrastructure development gap, leading developers to acquire and flip sites rather than proceed with actual building.

Rising material costs stemming from global issues, including disruptions caused by the war in Ukraine, are further complicating the construction landscape.