Rising construction costs spell further trouble for ailing builders
Building costs had looked to have turned a corner but are on the rise again, spelling further potential trouble for an industry that is already struggling.
The cost of timber has come down significantly, as has steel. In comparison, increases for bricks, plaster and concrete continue to rise. (Image source: Shutterstock.com)
Hopes that construction costs might finally ease have suffered a setback, with another uptick in the rate of price growth emerging.
Two states in particular are leading the charge.
Construction cost increases are again getting back to where they were during the pandemic in Western Australia, rising by 18.9 per cent in the 12 months to June.
In South Australia, construction costs accelerated in the June quarter, recording 7.3 per cent year on …
