A CFMEU banner hangs across a crane at the site of Melbourne’s Town Hall Train Station development, part of Victoria’s Big Build.

Further south of the CBD near the Yarra River Mitchell Brandtman associate Zaron Smith is speaking on stage at The Urban Developer’s Melbourne Residential Development Summit.

Smith says the Big Build is just one element impacting construction costs in Victoria over the next few months. Big budgets and saturation in the labour market is creating a very constrained market for the smaller end of town and heavily affectiving feasibility of projects.