Business News
Nigel Satterley says the federal budget’s tax reforms will add pressure to developers’ ability to deliver new greenfield developments.
Speaking at an Urban Development Institute of Australia WA event on Friday, the chief executive of property developer Satterley was concerned changes to the capital gains discount and negative gearing would increase demand while the construction industry was already battling with a shortage of workers.
“You go back 10 years, something which we used to build then in five months, now it’s 10 to 11 months, not because of materials, [it’s because of] workers,” Mr Satterley said.
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