Labour, material shortages drive up building costs

Thursday 11 November 2021

The latest Cordell Construction Cost Index data shows that the cost of building and renovating a home rose by 3.8% nationwide in the September quarter, and by 7.1% over the year to September.

Below are extracts from the media release, alongside key charts:

A surge in new builds and renovations coupled with supply chain disruptions and a shortage of materials has resulted in an unprecedented spike in construction costs.

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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.