Lower construction costs offer hope to troubled building sector
Building costs are still rising but at the slowest rate since 2021, yet suggestions that struggling builders might be out of the woods are probably premature.
Building costs are still up significantly over the past year but there are signs that a turnaround is underway. (Image source: Shutterstock.com)
In an era when even the nation’s largest builders are operating on wafer thin margins, there is finally some evidence emerging that construction cost increases are easing.
Supply chains have been operating smoothly for a year and now the cost of raw materials, such as steel in particular and timber, is steadying or falling.
CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new home, returned a quarterl…
