After two years of unabated increases in the price to build a new home or renovation, there are signs pressures on construction costs are easing despite lingering labour shortages and volatility among timber, metal and petrol prices. CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new home, returned a growth rate of 0.9% for the first three months of … Continue reading Growth in Australian construction costs finally show signs of easing

CoreLogic’s Cordell Construction Cost Index (CCCI) for Q3 2022 showed national residential construction costs increased at a record rate in the year to September 2022, the highest annual growth rate, excluding the period impacted by the introduction of the GST (10.2% over the year to March 2001). According to the national CCCI, residential construction costs increased by 11.0% over the 12 months to September, exceeding the 10% … Continue reading Australia’s construction costs continue to rise at record rates