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Albofltion is the gift that keeps giving. Cordell with the note.
The Cordell Construction Cost Index (CCCI) rose 0.5% through the September quarter, taking annual growth in the index to 4.0%. September marked the fourth consecutive slowdown in the pace of growth for residential construction costs on a quarterly basis, which recently peaked at a quarterly increase of 4.7% in the three months to September 2022.
The 0.5% result was the smallest lift since the June quarter of 2019, and is below a pre-COVID decade average of 1.0% per quarter. This suggests that while construction costs are still very elevated, the ongoing level of increase has normalised.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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