Pressure builds on construction industry as Iran war sends construction costs through the roof

Fuel surcharges and price rises stemming from the Middle East conflict are affecting every facet of residential construction, squeezing profit margins for builders and driving up inflation. As costs rise, projects become less feasible. Analysts from the Commonwealth Bank estimate between 15,000 and 25,000 fewer homes will be built by late 2029 as a result. Alison Branley spoke to Rocco Natoli, who runs a family business building small residential apartment blocks across metropolitan Sydney for David Reid Homes. He says he's facing fuel levies across his job in south Sydney. #ABCBusiness Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-05-21/costs-building-up-construction-jobs-hit-with-fuel-levies/106632106 Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia