A View on Timber Supply and Housing Demand

Tim Woods – Managing Director, IndustryEdge Pty Ltd

Tim Woods, Managing Director at IndustryEdge, opened with an analysis of timber’s role in meeting Australia’s intensifying housing demand. Citing Australia’s burgeoning population and shrinking household sizes, Woods painted a clear picture of why timber demand will continue to escalate. By 2034, Australia’s population is expected to exceed 31 million, and, with smaller households on the rise, the nation will require thousands of additional dwellings annually.

However, as Woods pointed out, Australia currently builds about 33,000 fewer homes than needed each year. This shortfall not only places pressure on the housing market but signals a coming bottleneck in timber supply. With a forecasted tightening in global timber supplies, it’s likely that timber prices will rise as supply constraints meet surging demand. Woods urged industry members to prepare by securing diversified supply channels and investing in domestic timber production.

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A Greener Future through Sustainable Construction

Boris Iskra – Wood Products Victoria

Boris Iskra, Technical Advisory Support for THA and a representative of Wood Products Victoria, addressed the pressing need for sustainable construction practices. With the federal government’s commitment to net-zero emissions by 2050 and its ambitious target to build 1.2 million new homes within five years, Boris underscored the role of timber in achieving these goals.

Iskra introduced the “Future Framing Collaborative Project,” a pioneering initiative aimed at enhancing lightweight timber-framed construction. The project seeks to modernise standards that have not seen significant updates in nearly 25 years, focusing on developing better resources for builders and architects. The goal is to make timber an even more attractive option for low-rise construction, providing cost-effective and sustainable alternatives to traditional materials while addressing housing shortages.

Beyond timber framing, Iskra emphasised that sustainable construction requires industry-wide collaboration, innovation, and a shift toward materials with low environmental impacts. This project serves as a blueprint for how the industry can both meet regulatory requirements and embrace eco-friendly building solutions.

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Navigating New Industrial Relations

Martin Stirling, Director of Legal Services Timber & Hardware                                                           

Martin Stirling, Director of Legal Services at THA, delivered a crucial update on recent changes in industrial relations that will impact the timber and construction sectors. Effective from December 2023, these changes redefine several employment practices, including criminalising wage underpayments and providing stronger protections for casual workers. Stirling emphasised that the new regulations highlight the importance of adapting employment practices to align with evolving workplace rights and employee protections.

Stirling encouraged businesses to prioritise compliance, especially in light of upcoming changes such as the “right to disconnect” for employees and expanded definitions of employee and employer roles. As he pointed out, navigating these changes will require both diligent oversight and adaptability, allowing businesses to foster a fair, supportive workplace while reducing the risk of costly legal issues.

Moving Forward Together

The 2024 THA Industry Breakfast reinforced the industry’s commitment to sustainable growth and adapting to change. As Mikaela McKenzie, THA’s Director of Member Engagement, stated, “Events like these are vital for keeping our industry informed and connected.” Through innovation and collaboration, the timber and hardware sector is ready to meet the challenges of tomorrow.

Thank you to our major sponsors AB Phillips and First Super for your ongoing support of the timber and hardware industry.