Recent weeks have highlighted how exposed our industry is to global events. Escalating conflict in the Middle East has pushed up oil prices, driving higher fuel costs locally, with diesel exceeding $3 per litre in some areas.

For a transport-reliant industry, these increases are immediate, raising costs across deliveries, site visits, and operations. Higher oil prices are also lifting the cost of building materials, adding further pressure across the supply chain.

At the same time, rising fuel costs are impacting households and weakening demand, compounded by recent interest rate hikes. This creates challenges for builders on fixed price contracts, with limited ability to absorb rising costs.

HIA is monitoring the situation closely and encourages members to share supply chain price impacts to help inform policymakers.

Finally, we’re relocating our office to 79 Constitution Avenue, Campbell this week. There may be minor disruption, but we’ll remain available via email and mobile, and look forward to welcoming visitors soon.