BUILDING COSTS STILL RISING

 September just gone the construction costs for building still grew by 1%.

The Government's target of building 1.2 million new homes could be in serious trouble. All I can say is that they better fund these builders ahead of the times if they want them still to be there at the end of the build.

With a sluggish start to July with the new home approvals, (should be taken of Councils, they don't seem to be able to keep up), it becomes increasingly difficult to build and within the same costs that you thought you would be up for. (that's why a lot of people would prefer to build).

Building approvals data released by the Australian Bureau of Statistics (ABS) showed that the total number of dwellings approved fell by 6.1% in August 2024 to 13,991.

If your builder cops rises then you need to too, if you don't you won't have a builder there to finish off your home as he would have gone belly up.  The trouble is who do you trust right? I would be more inclined to go with a "solid" builder that has been around for 20+ years. Unfortunately, the increase will be unwelcome news for builders who are still working to repair the profit margin. Although the latest quarterly rise does align with the pre-COVID decade average (1.0%), the overall construction costs have surged 29.5%, putting significant pressure on the feasibility of many projects.

Just be cautious and don't forget to ring around the references the builders give you, stick to that process and you shouldn't go prong.

Even buying some blocks around the Western Suburbs - agents are asking a lot money for a small block, then you put your house on it,  Just please be very diligent.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!

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