RESEARCH
OVER the June quarter, construction cost growth was at its lowest rate since September 2020 and well below the decade average.
According to CoreLogic’s Cordell Construction Cost Index (CCCI), construction costs grew by 0.7% over the quarter, after the first quarter returned...
This represents an ongoing significant deceleration since the index growth peaked in September 2022 at 4.7%...
Annually, the national CCCI was up by 8.4%, which is much improved from last year’s 11.9%, which was the largest annual index rise on record...
“While the annual growth figure remains high it’s the lowest level it’s been since the 12 months to December 2021,” said John Bennett...
“The latest index figures will bring some comfort and reassurance to the beleaguered building and construction industry as...
Despite these positive indicators and the growth levels seen last year now moderated, different product type prices still remain volatile...
“The CoreLogic costings team is recording some volatility and a large amount of variation across material types, but...
While on the other end of the scale, Western Australia recorded the slightest increase with a quarterly bump of 0.5% and...
Residential construction costs moderating is also reflected in quarterly CPI outcomes, with annual growth in the cost of...
“The cost of new owner occupier dwelling purchases comprises the largest weighting in the CPI ‘basket’, which means...
“Despite high inflation and 12 interest rate hikes in 14 months, an imbalance between supply and demand has put a...
“Net overseas migration was forecast to reach 400,000 people this financial year just past, and stay elevated for the foreseeable future...