A survey shows that half of the commercial building and construction sector could take their financing away from the banks and look to private syndicates or offshore for future funding.
Mark Beattie of Davis Langdon said "Given current lending policies and a rising interest rate environment, it is difficult to see how the construction industry can pick up quickly, as the benefits from the federal government's stimulus package start to fade".
A developer is quoted as saying smaller companies are forced to pay at least 4% above a normal residential loan as charged by the banks.
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