Building Costs Per Square Metre in Australia – ABS Statistics

Building Costs Per Square Metre in Australia – ABS Statistics

Cost of Building Detached Single Family Homes
Cost of Building Semi-Detached Townhouses
Cost of Building Apartments/Flats
Major Industrial Projects in Australia
Major Residential Building Projects in Australia

4 Bedroom, 2 Bath House for Sale in Queensland - Australia

A Nice Home for Sale with 4 Bedrooms, 2 Baths, and Double Garage on 22 Goundry Drive, Holmview, Queensland, Australia – PRICE $435,000

Building costs in Australia surged to their highest ever since March 2005, with the national Cordell Construction Cost Index (CCCI) formerly known as the Cordell Housing Index Price (CHIP) rising from 149.7 in March 2004 to 160.6 in March 2005,which represents a 7.28% increase over a year. Costs haven’t risen to this level over the 17-year span until March 2021, which recorded a 7.1% increase from the previous year. The CCCI was 163.9 in September 2005 ending up at 318.6 in 2021 of the same month. That’s a 94% rise in residential construction costs since 2005. While there is a sizeable amount of  construction activity spurred by infrastructure projects in 2022, disruptions in the residential construction sector caused by the Covid-19 pandemic led to a shortage of labour as well as shortages of building materials. Building costs increased as large volumes of residential and non-residential work was approved, creating a demand  which couldn’t be met. The Covid-induced shortage of labour was a serious problem which is predicted to affect construction throughout 2022, which could be solved by attracting skilled migrant labour. Timber and metal are some of the building materials in short supply, but the availability and production of bricks has not been affected. Residential building costs are projected to remain high as long as supply can’t meet demand, and fewer housing developments are expected.

According to the Australian Bureau of Statistics (ABS), the last statistics of the average gross floor area (GFA) of a new house in Australia and its provinces were recorded in 2018. The data also included the average cost of building a new house. From these two sets of data, the building cost per square metre for a certain type of dwelling can be worked out. ABS groups residential dwellings into three categories (houses, townhouses and apartments/flats). A house is defined as a detached single family home. A townhouse is defined as a semi-detached house sharing walls with other similar houses in the same row, but having its own private front and backyard. All the floors/storeys including the basement and yard in a townhouse are inhabited by a single owner. An apartment is a multi-family dwelling unit (MDU) or single block with multiple housing units/private rooms.

Cost of Building Detached Single Family Homes

Detached Single Family Homes - Australia & 8 Provinces - Building Costs Per Square Metre 2021

Detached Single Family Homes – Australia & 8 Provinces – Building Costs Per Square Metre 2021

Detached Single Family Homes - Australia & 8 Provinces - Building Costs Per Square Metre 2021_TABLE

Detached Single Family Homes – Australia & 8 Provinces – Building Costs Per Square Metre 2021_TABLE

In 2018, the building cost per square foot for detached private single-family homes in Australia was in the range $1,252.81 to $1,854.69 per m2, with the average being $1,489.84 per m2.

Pages: First |1 | 2 | 3 | ... | Next → | Last | Single Page