ABS – Data: new construction costs rise, but data points for cutting – realestate.com.au

The costs of Australia’s average new housing construction increased by more than $ 22,500 to $ 492,410 in the past financial year.

But the rising costs are expected to no longer affect the decisions of the reserve bench about the interest rates with an important group industry group that now predicts the July shockhold that a reduction in the costs for housing loan will be reduced next week.

The Association of the Housing Industry Association analyzed the Australian Bureau of Statistics data that were released on Friday and discovered that material costs increased lower than the consumer price index in the past year.

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Instead, they believe that the rising costs of new builds in the data of homes are caused by seven-star energy efficiency and accessibility minimum standards added to Victoria and South Australia in 2024, and a year earlier flow on the effects of the same code added to NSW and Queensland.

Much of the rest of the increase is linked to home buyers who want to build houses that are larger, better quality, or both.

Hia -economist Maurice Tapang said that these factors, even with an increase in the approval costs of 4.8 percent in the approval costs of the house in the past year, should now be clear for an interest reduction in August.

Hia -economist Maurice Tapang tips a rate reduction in August.

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“I don’t think they should postpone cutbacks at the cash rate with regard to people who take houses of larger or better quality, I don’t think this will be their biggest concern,” Tapang said.

The association was one of the few who predict the rates of July in July to keep the rates, but now believes that the chance that they will be cut in August, and again in November, because they follow what a more di -month schedule seems to be after cutbacks in February and May.

Although most construction costs did not increase in the past financial year, there were some outbijters. Copper pipes and fittings jumped at 13.9 percent, the electric cable and the pipeline registered an increase of 8.3 percent, while fiber -like cement products increased by 7.5 percent, before the 5.7 percent profit of the ready -made concrete.

The ABS approval data showed that NSW was the largest increase in the costs of the average new house goods inspection in the past financial year, and increases more than $ 38,700 to almost $ 550,000.

The costs for building new houses have risen in every Aussie State on the mainland.

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West -Australia overshadowed, where the typical housing price $ 26,786 rose to $ 443,210.

South -Australia remains the most affordable mainland state to build a house, despite an increase of $ 25,400 that yields its typical house costs at $ 403,348.

Queensland and Victoria both had comparable increases, with the former rising $ 20,940 to $ 500.160 in the past year, and the latter is slightly less than $ 20,000 to $ 510,000.

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