Build cost inflation likely to hit 'double figures' by next year

House building costs should level out into 2023 as materials become easier to find. (Image: Getty)

Fri, 14 Oct 2022

Residential construction costs continued to build during the third quarter, with a quarterly 3.4% increase pushing 12-month residential build inflation to a record 9.6%, according to the latest CoreLogic Cordell construction cost index.That was the highest annual level on record for the index, based on the cost to build a standard 200sqm three-bedroom, two-bathroom single-level brick-and-tile house – surpassing 7.7% for the 12 months to June 2033.CoreLogic chief property economist Kelvin Davidson said there are signs of a slowdown for the...

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