Advertisement
CoreLogic has released its latest Cordell Housing Index Price (CHIP), which measures the rate of change of construction costs within the residential market and covers freestanding and semi-detached single and two storey dwelling homes.
As shown below, residential construction costs were up 0.5% over the June quarter and 3.8% higher over the year, continuing a trend where the cost of building residential projects continues to outpace inflation:
New South Wales continues to recorded the highest residential costs increase, up 4.5% on an annual basis, while Western Australia has the lowest rate at 2.9%:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.