Building costs

Home owners have been bearing the cost as construction expenses have outpaced inflation in over half the country, with rising import and logistics costs driving up the price of new homes. New data has shown that the average cost to build a new home has risen at a faster rate than inflation in several key markets. According to Australian Bureau of Statistics (ABS) and OpenLot.com.au data, inflation...

By Erin Delahunty It’s a seemingly simple question with a complicated answer: how much does it cost to build a house in Australia?The average cost to build a house in Australia in December 2023, according to the Australian Bureau of Statistics, was $394,981. Townhouses came in at a national average of $350,246.And while the prices for building materials have moderated since then, ongoing labour...