SYDNEY—Snarled provide chains and labor shortages are including gasoline to a number of the world’s hottest property markets, complicating efforts by central banks and regulators to chill them down.
In Australia, shortages of supplies and provide disruptions have contributed to the typical value of newly constructed properties not too long ago rising at its quickest charge in 21 years, in keeping with the Australian Bureau of Statistics. Within the U.Okay., an absence of subcontractors together with carpenters and electricians is driving fast will increase in wages. New Zealand’s authorities this month ordered its competitors watchdog to look at the provision of constructing supplies amid considerations about increased building prices and housing affordability.
