Iran War Drives up Australian Home Construction Costs
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Good morning and happy Friday! President Donald Trump struck an optimistic note for prospects the US and Iran could agree to a permanent ceasefire as the two sides discuss an extended truce. Meanwhile, the impact of the war continues to reverberate across the Australian economy - from housing, to wheat crops and fertilizer supply. The war has also driven up the value of the Aussie dollar to levels unseen since June 2022. - Sharon Klyne, private credit reporter.
Higher construction costs caused by the war in the Middle East could worsen Australia’s ongoing housing crisis and threaten the country’s ability to meet ambitious housing targets, builders and economists have warned.