Supply-Chain Woes Snarl Attempts to Tame House Prices

Rising costs of construction materials, labor shortages complicate efforts to cool some of the world’s hottest property markets

, shortages of materials and supply disruptions have contributed to the average price of newly built homes recently rising at its fastest rate in 21 years, according to the Australian Bureau of Statistics. In the U.K.

, a lack of subcontractors including carpenters and electricians is driving rapid increases in wages. New Zealand’s government this month ordered its competition watchdog to examine the supply of building materials amid concerns about higher construction costs and housing affordability.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

WSJ /  🏆 98. in US

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Supply-Chain Snarls Leave Southern California Swamped in Empty Shipping ContainersHundreds of thousands of empty shipping containers are filling marine terminals and truck yards across Southern California and tying up scarce trucking equipment as ocean carriers scramble to return empty boxes to factories in Asia.
Read more »

Going to the store may be your smartest bet to navigate the supply chain crisis this holidayThe supply chain crisis means last-minute gift buyers may have little choice but to go shopping the old-fashioned way this holiday season.
Read more »

Opinion | Don't blame the supply chain for your Black Friday struggles. Blame America's wealthy.Black Friday reminds us that Americans are addicted to buying things, HayesBrown writes.
Read more »

Santas are also in short supply this year, which leads to some intriguing alternativesMany men who usually get the Santa gigs have moved, retired or, in some cases, died. Opportunities abound.
Read more »

Best Buy holiday-quarter sales view dulled by supply issuesWATCH: Electronics retailer Best Buy projected quarterly sales below market estimates, reflecting the toll of shipping logjams, shuttered factories and a scarcity of raw materials that have ripped through global supply chains this year
Read more »