RESEARCH
THE cost of residential construction in Australia continues to rise, with a 1% bump over the September quarter, putting further pressure on the federal government’s 1.2 million housing...
According to CoreLogic’s latest Cordell Construction Cost Index (CCCI), residential construction costs grew in line with the pre-COVID decade average with the 1% increase following...
The annual increase to the end of September came in at 3.2%, up from 2.6% in the 12 months to June but down from the 4.0% in the same quarter in 2023...
With the official start date for the Government’s target for 1.2 million new well-located homes over five years kicking off in July, the recent re-acceleration of the CCCI could put...
Queensland saw the greatest increase in construction costs at 1.1%, with NSW and WA up 1.0% and Victoria and South Australia both up 0.8%...
At the same time, construction costs have stabilised over the quarter, according to CoreLogic’s construction cost estimation manager John Bennett...
This quarter has shown no standout specific trends in the market for construction cost materials. We fully expect this to continue for the coming months,” said Bennett...
Timber products, building permit and application costs, plant hire and rainwater products remained largely stable over the period...
While masonry, cement sheet products, joinery, plumbing material and general waste all recorded minor increases...
Australia needs an additional 83,000 tradies to meet the ambitious National Housing Accord target, according to the HIA Trades Availability Index...
“Over the year to June, approximately 176,000 dwellings were completed, -26.6% below the 240,000 annually needed to fulfil the target,” added Ezzy...
“While 250,000 homes remain within the construction pipeline nationally, the sluggish flow of new dwelling approvals suggests a shortfall of projects once the backlog is worked through.”...
This latest data comes after August saw a decline in national dwelling approvals to 17.9% below the decade average and 30% below the 20,000-approvals-a-month target needed to...
With ABS figures showing new housing starts fell 8.8% in FY24, to 158,690 new starts, as Australia recorded its worst 12 months for new home builds in a decade...
The National Housing Accord target is considered farfetched by analysts and the government’s own Albanese government’s National Housing Supply and...