Money
Timber shortages threatening Australia’s construction industry
Australia needs to expand its tree plantations to avoid a building crisis
After timber shortages devastated the North American construction industry, Australia is predicted to soon follow.
The next 15 years could see a deficit of 250,000 wooden house frames if more trees are not planted.
The shortage may slow the development of building projects while pushing up costs.
Worldwide timber scarcity means Australia will have to rely on domestic supplies exclusively, as one quarter of timber is currently imported.
Master Builders Australia Chief Executive Officer Denita Wawn says the crisis is a “wake-up call” for Australia to act now.
“The housing construction industry is the engine room of the Australian economy and it
needs a consistent, reliable domestic timber supply,” she says.
The need for plantations is dire considering about 30 years is needed for forests to mature.
Recent building incentives in the country have led to spikes in construction but the shortage means projects are being delayed.
This comes as Australian forests have shrunk over the last decade, largely due to the wildfires of 2019 and 2020.