Ballooning constructions costs have led to the suspension of construction on thousands of buildings in Victoria, and many may never be built.

Analysis from KPMG Australia reveals more than 10,000 dwellings approved in the past two years hadn’t commenced by March, double the figure recorded in March 2022.

Director at KPMG Planning and Infrastructure Economics, Terry Rawnsley, says developers face a “conundrum”.

Press PLAY below to hear why so many projects are being shelved